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LMax Exchange, a UK-based non-exchange forex technology provider, said on Monday it has launched a New York-based exchange, using forex matching engine located in Equinix International Business Exchange (IBX) data center in New York (NY4). The move represents a milestone in the company’s global expansion strategy.
The US engine is a new liquidity pool for institutional spot forex trading, built for funds, asset managers, brokerages and banks alike. The exchange enables clients from North America to trade on unique, no ‘last look’ limit order liquidity, ensuring no delay of orders, at low latency execution, high fill rates, and with access to real time streaming market data. It ensures universal matching for all participants and pure exchange matching environment for spot forex.
In addition to the New-York based exchange, LMax Exchange also operates exchanges in London (LD4) and Tokyo (TY3).
“Equinix’s NY4 data center is the ideal location for our high performance matching engine which is capable of delivering over 100,000 orders/second,” said Andrew Phillips, technical operations director at LMAX Exchange. “Being in NY4 will provide us with close proximity to major financial institutions in North America to the benefit of our customers and LMAX Exchange,” he added.
“Our goal at Equinix is to protect and connect the critical digital assets of global financial services firms in the world’s top financial centers. We are thrilled to have the addition of the LMAX Exchange matching engine in NY4 to provide customers lower latency and higher performance,” said John Knuff, general manager of financial services at Equinix.
LMax Exchange is regulated by the UK Financial Conduct Authority (FCA) and is the first multilateral trading facility (MTF). It introduced exchange style trading to the spot forex market. The company offers clients direct access to institutional liquidity, putting a strong emphasis on transparency and precision of trade execution. Some forex brokers that partner with LMax Exchange are DeltaStock, Z.com, Armada Markets, and FP Markets, among others.