LMAX Exchange has launched LMAX Prime, a prime of prime service to provide retail brokers, hedge funds and asset managers with credit intermediation and bespoke liquidity arrangements with access to multiple venues.
LMAX Exchange will leverage its prime broker relationships, whilst also giving clients access to trading on ‘no last look’ liquidity from LMAX Exchange as well as on other execution venues.
Gareth Bowles, Head of LMAX Prime Sales, says: “There has never been more demand for the flexibility and cost advantages of prime of prime services than in the current environment. As major prime broker banks are either raising capital requirements, dropping smaller clients or exiting the space altogether, LMAX Exchange is perfectly positioned to connect traders with both the needed credit lines and liquidity on multiple execution venues.”
Unlike existing prime of prime services that use third-party plug-ins for risk calculations, LMAX Prime makes use of LMAX Exchange’s proprietary technology, seamlessly integrating their low latency pre-trade risk management tool with no impact to the quality of the venue’s execution.
Scott Moffat, COO of LMAX Exchange, says: “As with all the services we offer, what will truly mark LMAX Prime as exceptional is our technology, which will allow clients safe, fast, transparent and efficient execution, with unique pre-trade risk management.”
Pordum Investments Ltd, a client of LMAX Prime, says: “As a leading technology provider, LMAX Exchange is ideally positioned to offer its clients a full prime of prime solution, and we were attracted by the flexibility of the set-up and wide range of liquidity LMAX Prime can provide.”
