LMAX exchange has announced that it is adding trading in the Russian ruble (RUB) and Chinese renminbi (CNH) among its growing list of supported currencies. The addition of two of the leading BRIC country currencies occurs as the FCA regulating MTF has been widening its overall product base to cater to private retails traders to interdealer banks.

Commenting on the launch in the company’s public release, CEO of LMAX Exchange, David Mercer stated that, “These new currencies will greatly enhance our proposition to existing clients and help attract new clients in Asia and Eastern Europe. LMAX Exchange is committed to enabling its clients to capitalize on this growth, with our own monthly trading volumes growing at 250% year-on-year and our client base expanded to 73 countries.”

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Looking ahead, it will be interesting to see how much traction the two pairs gain among Asian clients. As an exchange driven product, while LMAX provides traders a central order book of aggregated liquidity, users have limited abilities to gain access to customized quotes. In addition, located in London, Far East traders are vulnerable to latency issues that are applicable with the long fiber haul. However, for existing clients, specifically those brokers who use LMAX as a source of liquidity for their customers, the additional RUB and CNH currency pairs will provide them with greater diversity to market to their end-user clients.

For more on exchange traded FX, during the Forex Magnates London Summit’s FX Liquidity Panel, the topic was discussed with representatives from the CME, LMAX, FXall, FXCM, and Integral.