LMAX Digital is a subsidiary of an exchange which goes by the name LMAX Exchange Group. Precisely, the exchange group is focused on cryptocurrency activities. According to reports, LMAX Digital announces that the Gibraltar Financial Services Commission grants a license to it. The subsidiary exchange claims that GFSC grants it a Distributed Ledger Technology or DLT Provider license.
However, the institutional grade infrastructure for cryptocurrency trade actively develops, reports suggest. While LMAX Digital came into effect last year, it also established first crypto exchanges that FX exchange operator regulates.
As a matter of fact, the exchange was the only one to deliver the series to institutional clients. Since then, various new market players came into crypto space following the trend. All in all, 2018 was the year for market players who actively built the infrastructure. This event was also dedicated for the next phase in the bull market of cryptocurrencies.
Similarly, LMAX Digital is the result of proprietary technology of LMAX Exchange. The company dedicated to developing its infrastructure to pave the way for the global FX market. The company also scaled it to crypto space making a logical step to enter last year in May.
Demand for Institutional Crypto Increases
As the demand increases from institutional clients, LMAX Digital leverages its experience from the FX market. The institutional clients are pretty interested in cryptocurrencies, data highlights. Therefore, the company is ready to deliver a scalable product. The company plans to in line the product with the increasing demand of the institutional market.
Similarly, David Mercer, the CEO of LMAX Exchange Group gives light into the matter. He comments on the news that LMAX Digital fills the gap in the crypto market. According to the CEO, the company will do so by providing institutions a trading platform. He emphasizes that the company will give institutions the opportunity, which they can trust. Further, Mercer claims that the platform would secure the funds and high in technology. He also adds they have made the platform with deep liquidity and high performance.
Furthermore, Mercer goes on explaining that LMAX Exchange Group is continuously supporting regulatory oversight. And, they always work with regulators proactively, claims Mercer. He also says that they help foster a trusted and transparent marketplace for all participants. The CEO of LMAX Exchange is happy that GFSC recognizes their efforts in creating a transparent and secure marketplace.
LMAX Digital complies with regulatory principles, says GFSC
On the other hand, GFSC confirms the certification involving LMAX Digital. According to GFSC, LMAX Digital complies with regulatory principles. As a matter of fact, there are a total of nine regulatory principles in the regulatory framework of Gibraltar DLT.
Among the risk management process of authority, there is effective corporate governance. It also encompasses high standards of customer care facilities and security controls. As a result, it can combat financial and cyber crimes. Similarly, the regulations aim to adopt high standards of integrity and honesty.
However, Jenna Wright is the Head of LMAX Digital, and she comments on the news. She says that the Gibraltar regulator acknowledged their role in diversifying institutional currency. Wright also says that they are looking forward to working with GFSC and other regulators too.
Also Read : How to trade Cryptocurrency? A Detailed Guide