LMAX Exchange adds RUB and CNH currency pairs

LMAX Exchange, the first FCA regulated MTF for FX trading, has added ruble (RUB) and offshore renminbi (CNH) currency pairs to its existing list of over 70 traded instruments.

First Published by e-Forex News: January, 2014

LMAX Exchange, the first FCA regulated MTF for FX trading, has added ruble (RUB) and offshore renminbi (CNH) currency pairs to its existing list of over 70 traded instruments.

Commenting on these additions, David Mercer, CEO of LMAX Exchange says, “Daily turnover of FX reached $5.3 trillion in 2013, a 35% increase from 2010, and is set to grow in 2014 and beyond. This growth will be driven by emerging markets in 2014, with Asia and Russia being two key markets. For example, the Moscow Exchange recently announced RUB volumes growing 59% year-on-year and reaching a new record high in December 2013.

“These new currencies will greatly enhance our proposition to existing clients and help attract new clients in Asia and Eastern Europe. LMAX Exchange is committed to enabling its clients to capitalise on this growth, with our own monthly trading volumes growing at 250% year-on-year and our client base expanded to 73 countries.”

On LMAX Exchange’s client offering, David Mercer explains, “At LMAX Exchange, we believe that exchange style execution is the most efficient way to trade liquid products, such as spot FX. Our growth to date demonstrates our traction in the marketplace and the benefits of the exchange style execution for every client segment in the market.”