LMAX Digital Hits New High
Posted by Colin Lambert. Last updated: May 25, 2021
As the platform celebrates its third anniversary, LMAX Digital hit yet another new high last week, transacting $6.6 billion worth of cryptocurrencies on May 19. The new high came just days after the platform recorded daily volume of over $5 billion.
The platform is averaging over $2.5 billion per day, a tenfold increase from May 2020 and says it now has 450 institutional investors trading on the platform, 200 of which have joined in 2021 a surge in interest Jenna Wright, managing director of LMAX Digital, says is “extraordinary”.
“Our products and services continue to quickly adapt to meet the needs of our fast-growing institutional client base,” says David Mercer, CEO of LMAX Group. “Our technology has proved resilient, robust and ready to cope with surging volumes across the industry, which hit a record high of $6.6 billion on 19 May 2021. We believe this is just the beginning of the mainstreaming of cryptocurrencies [and] expect much broader adoption by institutional investors which will drive a greater sophistication of products required.”