<p>LMAX Group announced on Friday the expansion of its technology infrastructure in the Asia Pacific with the launch of a new matching engine in the Equinix IBX Data Centre in Singapore (SG1), which went live earlier this year.</p><p>It is the fourth matching engine run by <a href=”https://www.financemagnates.com/tag/lmax-global/” target=”_blank”>LMAX</a> globally. Before launching its matching engine in SG1, LMAX opened a regional hub in Singapore in 2015. Now, with its presence in the <a href=”https://www.financemagnates.com/terms/d/data-center/” target=”_blank” id=”15e21ee2-47b7-466a-8723-403e3053c1b2_1″ class=”terms__secondary-term”>data center</a>, it is expecting to build regional <a href=”https://www.financemagnates.com/terms/l/liquidity/” target=”_blank” id=”47c3bef3-27ee-4953-8504-159e1b829b33_1″ class=”terms__main-term”>liquidity</a>.</p><p>“Singapore is the largest FX trading center in Asia Pacific and a major FX center globally. We recognize the strong demand for deep institutional liquidity and transparent, efficient price discovery that the CLOB execution model delivers to market participants in the region,” said David Mercer, CEO of LMAX Group.</p><p>Major Expansion Plans in Singapore</p><p>Currently, the group is offering spot FX trading services in <a href=”https://www.financemagnates.com/institutional-forex/integral-announces-availability-of-integralfx-in-singapores-sg1-data-center/” target=”_blank”>SG1</a> and has plans to bring global trading capabilities through a range of products. </p><p>LMAX is also seeking approval from the Monetary Authority of Singapore to offer non-deliverable forwards (NDFs) in early 2023. It also seeks regulatory approval for expanding its global Digital and Broker offering to Asia Pacific from Singapore.</p><p>LMAX’s focus on Asia Pacific has been visible for several years now. The addition of a Singapore-based matching engine came after the company launched its Tokyo matching engine, TY3, in 2014. The company now sees the potential to enhance further market access by establishing an Asia-Pacific corridor between its twin hubs in Singapore and Tokyo.The LMAX Group has three portfolio companies: LMAX Exchange, the institutional exchange and FCA-regulated MTF; LMAX Global, which operates FCA and CySEC -regulated brokers; and <a href=”https://www.financemagnates.com/cryptocurrency/as-crypto-markets-rebound-lmax-hits-highest-volume-yet-in-2022/” target=”_blank”>LMAX Digital</a>, the Gibraltar-regulated institutional spot cryptocurrency exchange.The latest announcement further revealed that the SG1 matching engine is already seeing traction locally with a “strong pipeline” of potential institutional customers.“Our Singapore matching engine brings us closer to clients in the region, and since launch, we have seen 3x growth in our FX trading volumes month on month,” Quentin Miller, Managing Director of Asia Pacific at LMAX Group, said.Meanwhile, the <a href=”https://www.financemagnates.com/cryptocurrency/lmax-group-sees-record-jumps-in-gross-revenue-and-profit-in-2021/” target=”_blank”>profit of the LMAX Group</a> in 2021 jumped by 68 percent to $106 million. Its gross revenue also climbed by 80 percent.</p>
This article was written by Arnab Shome at www.financemagnates.com.
