Type Privately held company Website www.lmax.com | Headquarters London, United Kingdom Founded 2010 | |
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Industry Electronic forex Trading Products Forex, Bullion, Equity Indices, Commodities, Ven Motto A unique vision for global FX trading | ||
Lmax exchange review
LMAX Exchange is a UK-based multilateral trading facility (MTF) for forex trading. LMAX Exchange provides low latency, order-driven execution venue for electronic trading on the foreign exchange market.
Contents
Lmax exchange chart talk monday march 20 2017
History
The company was launched in 2010 and by 2016 has grown to be the major MTF for forex trading.
In 2013 it decided to expand its services to the US, by setting up second matching engine in New York. This was completed and went live in 2016.
Business model
LMAX uses the concept is an exchange style trading model for trading that was traditional executed over-the-counter; just as on an exchange - orders are matched in price/time priority with no 'last look' or ability to reject orders by liquidity providers.
In accordance with MTF principles, trading on LMAX Exchange is pre & post trade transparent. MTF operating principles and membership rules are defined in the publicly available Rulebook.
LMAX Exchange operates an open order book, driven by market/limit orders against streaming, no 'last look' limit orders supplied by liquidity providers.
LMAX Exchange offers multiple connectivity options: FIX 4.4, Java and .NET APIs, MT4/5 bridges. Trading instruments on LMAX Exchange include over 60 Spot FX pairs, Spot Gold, Spot Silver, Major Indices.
Technology
LMAX Exchange technology is built for low latency execution and high throughput. The technology utilises a distributed event-driven architecture based on asynchronous multicast messaging. LMAX Exchange is notable for its invention, use and popularisation of the LMAX Disruptor, a software pattern and software component for high-performance inter-thread communication that avoids the need for message queues or resource locking. LMAX Exchange has open sourced its Java implementation of the Disruptor component and a number of other libraries. In addition LMAX Exchange was an early adopter and is a leading proponent of the Continuous Delivery software development process.
Regulations
LMAX Exchange is authorised and regulated by the Financial Conduct Authority (FCA), to operate a multilateral trading facility (MTF), as defined under the European Markets in Financial Instruments Directive ("MiFID").