LMAX Exchange Group, which operates a UK Financial Conduct Authority (FCA) regulated FX trading venue, has announced today a physical cryptocurrency exchange dedicated to serving only institutional clients. The company says it developed LMAX Digital at the request of its existing clients who asked for a credible, efficient and trusted platform to trade with like-minded institutions.
Institutional Grade Crypto
LMAX Digital will offer access only to the most liquid crypto assets including BTC, ETH, LTC, XRP and BCH, 24 hours a day, seven days a week. The company explains that trading is governed by similar rules and principles as LMAX Exchange’s FCA regulated MTF (Multilateral Trading Facility), meaning that the exchange offers the same level of security, compliance, KYC and anti-money laundering policies and procedures as its established operations.
Other features of the service include keeping one public rulebook for all members; a central limit order book (CLOB) with streaming, firm institutional liquidity; safe and secure hot/warm/cold multi-signature wallets; and a full custodian solution. Execution details include a matching latency of under 350 microseconds; a high throughput greater than 100,000 messages per second; an uptime of 100%; and all orders time-stamped in microseconds (receipt to execution). After the launch of LMAX Digital in a London-based data center (LD4), the company intends to also roll out infrastructure in New York and Tokyo in the near future…