LMAX Digital: $85B of Crypto Currencies Traded After 2 Years of Operation

LMAX Digital has become a leading institutional spot exchange for crypto currencies working with large global institutions

LMAX Digital, an institutional spot crypto currency exchange and part of the LMAX Group, reported today that it has traded $85 billion worth of crypto currencies during its first two years of operation.

LMAX Digital was the first crypto currency exchange to exclusively offer trading to institutional market participants.

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In just two years since launch, LMAX Digital has become a leading institutional spot exchange for crypto currencies and today works with the largest global institutions trading crypto currencies in the US, Europe and Asia.

During the past 12 months, the exchange has experienced tremendous growth with traded volumes increasing 10 times to $75 billion.

By commanding a significant share of the spot crypto currency market and trading with all the largest global institutional players, LMAX Digital has cemented its position as one of the primary price discovery venue in the industry.

David Mercer, CEO of LMAX Group, said that in Q1 2020, the firm saw an increase of 41% in quarterly trading volumes, reaching $20 billion, on the back of its organic growth and broader market volatility.

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“We have been impressed by the resilience of crypto currencies, particularly Bitcoin, and note that they have been relatively stable compared to other asset classes which have enjoyed central bank intervention and still shown extreme levels of instability. We see this as an encouraging sign that investors are starting to place more value in digital currencies and have continued to trade through spikes in volatility. All of which bodes well for the gradual maturing of the asset class,” he added.

Future plans

Mercer said that in the near future LMAX Digital is seeking to add its trade and market data to more of the world’s leading market reference indices.

“Further afield we are looking to expand our product portfolio to continue to meet the needs of our clients as we continue our growth trajectory in line with the growth and maturity of the asset class,” he added.

Mercer is certain that LMAX Digital will play a large part in the evolution of this industry and will drive further acceptance of crypto currencies as an established asset class by institutional traders.

“This will oblige large global banks to offer institutional investors traditional banking services and credit, which will in turn add increased liquidity to the market and move crypto currencies into the mainstream,” he concluded.

LMAX Digital – Last 12 months highlights

Performance highlights:

  • $75 billion traded
  • 20 million trades completed
  • 125 new institutional clients onboarded
  • $250 million Average Daily Volumes (ADV) – as of May 2020
  • Monthly record high of $8.6 billion traded in June 2019
  • Daily record high of $1.25 billion traded on 27 June 2019.
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