LMAX the latest broker to offer the award-winning MT4 has been disembarked by Goldman Sachs. The leading investment bank had a 12.5% stake in LMAX, a MTF developed by Betfair, however recently GS sold it back to Betfair.
Betfair the leading betting exchange has one of the most sophisticated matching engines in the markets and the same technology is applied to LMAX’s back-end offering traders advanced trade execution and pricing.
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LMAX has been developing its brand and product range by offering commodities and currencies. Recently LMAX soft launched the MT4 platform.
This is another unsuccessful investment by Goldman Sachs adding to its £140 million worth stake in CMC Markets which was written off and a $517 million loss on its investment in Industrial & Commercial Bank of China Ltd.
Goldman Sachs group currently trading at 116.40 on the NYSE.