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LMAX Exchange Group launches new regulated broker LMAX Global

First Published 4th January 2018

LMAX Exchange Group separates its multilateral trading facility and broker businesses for MiFID 2 compliance

LMAX Exchange Group has launched a broker that is fully regulated by the Financial Conduct Authority.

Under MiFID 2, multilateral trading facilities (MTF) and broker businesses must be operated as two distinct legal entities. Furthermore, an MTF operator is not allowed to execute client orders against proprietary capital or to engage in matched principal trading on its own MTF.

To meet regulatory changes, LMAX Exchange Group has transitioned the part of its business that serves brokers, money managers and non-institutional accounts to a new Financial Conduct Authority (FCA) regulated broker, called LMAX Global. This offers clients access to LMAX Exchange firm liquidity and execution.

LMAX Exchange will continue to operate as an FCA regulated MTF, serving institutional clients trading spot FX, precious metals and indices.