The Full FX Disruptor Series – with LMAX Group: Part Two

Part Two of the latest edition in the Full FX Disruptor Series, with LMAX Group, sees David Mercer, CEO of LMAX Group, and Colin Lambert, move their discussion into, for Lambert at least, more familiar territory in FX.

The two discuss the current situation regarding “onchain” FX as a concept – Mercer observes that while a majority of the leading FX banks have some sort of project underway, there are still notable obstacles to overcome – as well as where it can make the biggest difference in both FX and crypto markets. The role of smart contracts is also highlighted, specifically how they can solve for a problem that few in crypto seem to acknowledge – Herstatt risk.

Mercer also talks about his plans for LMAX Group in 2024m, from the development of the Cürex Group, post-acquisition, to extending the product suite of the wider group, noting the importance of LMAX being much more than a CLOB for spot FX. The two step into unfamiliar territory for the Disruptor series by discussing the need for workflow-related services, although Mercer closes out by observing that in an FX world seemingly dominated by disclosed, bilateral, trading, there is an enduring value in a CLOB that customers are increasingly recognising.