LMAX Exchange Group company of financial technologies and owner of LMAX Exchange, the leading trading platforms for FX, indices and metals, may 21 announced the launch of the first cryptocurrency exchanges to institutional investors.
The exchanger is called LMAX Digital and will allow institutional investors to trade five different cryptocurrencies.
The opening of the new exchange this kind of sounds like music to the ears of the industry, who have long tried to achieve a balance of legitimacy. With so many clever exchanges and shadow ICO, open cryptocurrency exchanges which are exclusively institutional, will provide a long-awaited seal of approval of financial regulators.
Commenting on his decision to open a new Bourse, CEO of LMAX Exchange, David Mercer (David Mercer) said:
“The growth of institutional trading digital currencies will be the force that will change the rules of the game. We believe that our new exchange will enable transformation of the cryptocurrency market to the level of the financial mainstream.”
As already mentioned, users of Digital LMAX will initially be able to trade just five different cryptocurrencies: Bitcoin (BTC), Bcash (BCH), Litecoin (LTC), Ethereum (ETH) and Ripple (XRP). These coins were chosen since they are considered as the most famous cryptocurrency and more importantly, provide the highest level of liquidity.
New exchange already works but some time its activities will be limited to the London datacenter LMAX. This will change in the coming months, as the firm plans to open offices LMAX Digital in Tokyo and new York.
LMAX Digital, besides the fact that is the only cryptocurrency exchange to institutional investors on its platform offers other advantages for traders. For example, the firm provides one public set of rules for all participants, a complete solution for storage and safe wallets with multiple signatures.
The opening of this LMAX exchange is committed to continue its growth. As the Financial Magnates, in the past year, the firm finished the year with a record profit of 34.4 million U.S. dollars.