LMAX Exchange, the FCA regulated MTF for FX, has announced the appointment of Scott Moffat as Managing Director for Asia Pacific, based in Singapore. Part of the LMAX Exchange founding team and former Chief Operating Officer, Scott Moffat will be instrumental in strengthening the company’s position in the region and building upon the existing presence, including the sales and operational hub in Hong Kong (set up in early 2015) and Tokyo-based exchange (launched in late 2014).
Moffat’s appointment demonstrates the company’s commitment to the region and signifies the strategic importance of Asia Pacific to LMAX Exchange global growth agenda. In the context of regulatory changes and the recently launched FX Global Code of Conduct, the appointment comes at the time when more and more clients need access to firm liquidity and require transparent, precise, consistent execution. Thus the company’s future growth in the region will enable more buy-side clients, banks and brokers to trade on the LMAX Exchange central limit order book and benefit from the ability to control trading costs and precision of execution, only available on no ‘last look’ liquidity.
Commenting on the appointment, LMAX Exchange CEO, David Mercer said:
First to commit to the FX Global Code, LMAX Exchange is a strong advocate of FX market reform to improve transparency and fairness in execution. With Scott’s appointment, LMAX Exchange will expedite its growth in the region and will enable more FX market participants to benefit from our unique exchange execution for FX. Scott has done an excellent job as COO and now takes that depth of knowledge and expertise to Asia Pacific to benefit the regional FX market.
Scott Moffat commented:
I’m looking forward to driving Asia Pacific growth for LMAX Exchange at a time when exchange style execution is gaining real recognition by the marketplace and the regulators as the most transparent, efficient and level playing field for trading FX.