LMAX ventures East, opens office in Hong Kong to provide firm limit order FX liquidity

London-based FX multilateral trading facility (MTF) LMAX Exchange has today announced the launch of LMAX Hong Kong Limited, a brokerage licensed by the Securities and Futures Commission (SFC) of Hong Kong for leveraged foreign exchange trading.

As an SFC licensed broker, LMAX Hong Kong offers institutional and professional clients in Hong Kong the ability to trade firm limit order FX liquidity.

According to LMAX, brokers, money managers, funds, corporations, CTAs and professional traders can now benefit from the neutral, transparent trading environment and consistent exchange quality execution in over 60 FX pairs.

The company’s foray into Hong Kong, which along with Singapore is widely recognized as a mainstay of institutional FX trading within the Asia Pacific region, LMAX will operate the same business model as its London headquarters in that execution will be provided with no ‘last look’ rejections, with a similar modus operandi to an exchange.

The company has made some senior hires in recent months as part of its expansion, with former Sales Director of e-FX at Bank of America, Tom Gould having joined the company in November last year in the newly created position of Head of US Sales.

Whilst Mr. Gould will be responsible for driving the institutional growth of LMAX Exchange in the US, former FXCM analyst Joel Kruger was onboarded at the end of October to assume responsibility for  providing original research and analysis of the overall currency space, called Global FX Insights.

Scott Moffat, COO of LMAX Exchange, is heading LMAX Hong Kong as an Executive Director. Today he explained in a corporate statement: “The establishment of LMAX Hong Kong as an SFC licensed broker significantly contributes to the firm’s growing presence in Asia Pacific; the recent addition of a new matching engine in Tokyo (TY3) means we can offer the same low latency execution of under 4ms to our clients in Asia-Pacific, that our clients currently enjoy in LD4.”

David Mercer, CEO of LMAX Exchange, added: “LMAX Exchange is leading the industry towards transparency through its unique exchange trading business model, and we’ve witnessed a real shift in FX trading towards transparent price discovery and fair execution over the past few years. In 2015 our goal is to become a leading player in FX trading in Asia Pacific by offering that same transparent, neutral, level playing field for all market participants in the region.”

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