LMAX Digital to Reveal Daily Traded Volumes on Cryptocurrencies
- In June, over $8.6 billion was transacted on the LMAX Digital crypto exchange, marking a new record for the platform.
Institutional cryptocurrency exchange LMAX Digital will start publishing its daily trading spot volumes, the exchange said on Tuesday, potentially challenging the dominance of benchmarks administered by independent industry aggregators.
The move coincides with the surge in crypto trading activity from institutional investors across LMAX’s platforms, which averaged $250 million per day over the last five months. The solid turnover comes on the heels of higher volatility in the market and growing demand from a combination of proprietary trading firms and Asian brokers, the company says.
In June, over $8.6 billion was transacted on the LMAX Digital crypto exchange, marking a new record for the platform. A month earlier, a record high of over $400 million in daily spot volumes was achieved on May 12. These monthly figures are three times more than April’s volumes, which stood at $2.2 billion.
LMAX Digital head Jenna Wright said that placing trading volumes in the public domain will enhance the quality of market information available to investors and provide a clear picture of the true size of the spot cryptocurrency market.
“Being able to access real time spot trading volumes, based on deep institutional Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term from a regulated spot cryptocurrency exchange, will further enhance the quality and accuracy of market information and price discovery,” added David Mercer, CEO of LMAX Exchange Group.
LMAX Digital is part of the foreign exchange trading business of the LMAX Exchange Group, which operates FX execution venues such as LMAX Exchange (FCA regulated MTF) and LMAX Global (FCA regulated broker).
LMAX Digital operates under similar rules and governance of its parent’s FCA-regulated multilateral facility (MTF), and its functionality is based on the venue’s existing technology stack. It offers to trade digital assets at the request of its existing institutional client base.
Simply matching buyers with sellers within an anonymous execution venue, LMAX Digital offers its users better price discovery and conflict-free execution in major Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term like Bitcoin, Litecoin, Ethereum, Ripple, and Bitcoin Cash.
LMAX Digital also offers cryptocurrency custodian services to clients who trade on its exchange, which solves one of the major problems that have prevented institutional investors from dabbling in the virtual asset class.
“The decision to start publishing daily volumes forms part of our wider market and trade data strategy. LMAX Digital is already providing real-time market data to some of the industry’s leading reference rate indices and is working with further major institutional analytics providers to integrate our real time volume data feed into these platforms,” said David Mercer, CEO of LMAX Exchange Group.
Institutional cryptocurrency exchange LMAX Digital will start publishing its daily trading spot volumes, the exchange said on Tuesday, potentially challenging the dominance of benchmarks administered by independent industry aggregators.
The move coincides with the surge in crypto trading activity from institutional investors across LMAX’s platforms, which averaged $250 million per day over the last five months. The solid turnover comes on the heels of higher volatility in the market and growing demand from a combination of proprietary trading firms and Asian brokers, the company says.
In June, over $8.6 billion was transacted on the LMAX Digital crypto exchange, marking a new record for the platform. A month earlier, a record high of over $400 million in daily spot volumes was achieved on May 12. These monthly figures are three times more than April’s volumes, which stood at $2.2 billion.
LMAX Digital head Jenna Wright said that placing trading volumes in the public domain will enhance the quality of market information available to investors and provide a clear picture of the true size of the spot cryptocurrency market.
“Being able to access real time spot trading volumes, based on deep institutional Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term from a regulated spot cryptocurrency exchange, will further enhance the quality and accuracy of market information and price discovery,” added David Mercer, CEO of LMAX Exchange Group.
LMAX Digital is part of the foreign exchange trading business of the LMAX Exchange Group, which operates FX execution venues such as LMAX Exchange (FCA regulated MTF) and LMAX Global (FCA regulated broker).
LMAX Digital operates under similar rules and governance of its parent’s FCA-regulated multilateral facility (MTF), and its functionality is based on the venue’s existing technology stack. It offers to trade digital assets at the request of its existing institutional client base.
Simply matching buyers with sellers within an anonymous execution venue, LMAX Digital offers its users better price discovery and conflict-free execution in major Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term like Bitcoin, Litecoin, Ethereum, Ripple, and Bitcoin Cash.
LMAX Digital also offers cryptocurrency custodian services to clients who trade on its exchange, which solves one of the major problems that have prevented institutional investors from dabbling in the virtual asset class.
“The decision to start publishing daily volumes forms part of our wider market and trade data strategy. LMAX Digital is already providing real-time market data to some of the industry’s leading reference rate indices and is working with further major institutional analytics providers to integrate our real time volume data feed into these platforms,” said David Mercer, CEO of LMAX Exchange Group.