LMAX Group, the operator of multiple
institutional execution venues for forex and cryptocurrency trading, saw record performance during its fiscal year that ended December 31, 2021.
The UK-headquartered company’s gross profit
jumped 68% to US$106 million in 2021, LMAX Group announced on Tuesday.
The Group’s gross revenue also climbed 80%
higher during the period compared to 2020, the company said.
The total trading volume of the group also shot up 20% year-over-year to US$5.4 trillion in 2020.
Furthermore, LMAX Group reported a 103% growth
in its statutory earnings before interest, taxes, depreciation, and amortization
(EBIDTA), and an EBITDA margin increase of 58%.
The statutory EBIDTA touched US$62 million, LMAX
Group said.
Growth Factors
The company explained that the growth in its
institutional market share across both the forex and cryptocurrency markets
“despite volatility and downward pressure on volumes” contributed to the
revenue jump.
David Mercer, the Chief Executive Officer of LMAX
Group, attributed the “strong performance” to “years of investment in our
market-leading proprietary technology”.
Mercer added that LMAX Group’s efforts to diversify its product offering and geographic reach contributed to the record
financial results.
“2021 was a milestone year for LMAX Group as we
successfully navigated through challenging global macroeconomic conditions to
achieve record volumes, revenues, and EBITDA,” he added.
The LMAX Group includes the UK Financial Conduct
Authority (FCA)-regulated LMAX Exchange, which is an institutional forex exchange; and
the LMAX Global, which is the brokerage arm regulated by the FCA and the Cyprus
Securities and Exchange Commission.
It also includes LMAX Digital, an institutional
spot cryptocurrency exchange regulated by the Guernsey Financial Services
Commission.
Focus on LMAX Digital
According to LMAX Group, LMAX Digital volumes
reached over $500 billion during its fiscal year 2021.
“Over the course of the year, LMAX Digital
maintained its position as the primary price discovery venue in the market and
continued to drive institutional adoption of cryptocurrencies, delivering over
$500 billion in volumes, up 340% year-on-year,” LMAX Group explained.
A more recent signal of LMAX Digital’s growth is its institutional spot
cryptocurrency
peak
volumes reported in May following the crypto market
rebound at the time.
The volumes reached $2.10 billion and $3.25
billion on two consecutive days during the month.
Meanwhile, LMAX Group in March partnered with the SIX Swiss Exchange, a major Swiss stock
exchange, to launch cash-settled and centrally cleared crypto-asset futures.
LMAX Group, the operator of multiple
institutional execution venues for forex and cryptocurrency trading, saw record performance during its fiscal year that ended December 31, 2021.
The UK-headquartered company’s gross profit
jumped 68% to US$106 million in 2021, LMAX Group announced on Tuesday.
The Group’s gross revenue also climbed 80%
higher during the period compared to 2020, the company said.
The total trading volume of the group also shot up 20% year-over-year to US$5.4 trillion in 2020.
Furthermore, LMAX Group reported a 103% growth
in its statutory earnings before interest, taxes, depreciation, and amortization
(EBIDTA), and an EBITDA margin increase of 58%.
The statutory EBIDTA touched US$62 million, LMAX
Group said.
Growth Factors
The company explained that the growth in its
institutional market share across both the forex and cryptocurrency markets
“despite volatility and downward pressure on volumes” contributed to the
revenue jump.
David Mercer, the Chief Executive Officer of LMAX
Group, attributed the “strong performance” to “years of investment in our
market-leading proprietary technology”.
Mercer added that LMAX Group’s efforts to diversify its product offering and geographic reach contributed to the record
financial results.
“2021 was a milestone year for LMAX Group as we
successfully navigated through challenging global macroeconomic conditions to
achieve record volumes, revenues, and EBITDA,” he added.
The LMAX Group includes the UK Financial Conduct
Authority (FCA)-regulated LMAX Exchange, which is an institutional forex exchange; and
the LMAX Global, which is the brokerage arm regulated by the FCA and the Cyprus
Securities and Exchange Commission.
It also includes LMAX Digital, an institutional
spot cryptocurrency exchange regulated by the Guernsey Financial Services
Commission.
Focus on LMAX Digital
According to LMAX Group, LMAX Digital volumes
reached over $500 billion during its fiscal year 2021.
“Over the course of the year, LMAX Digital
maintained its position as the primary price discovery venue in the market and
continued to drive institutional adoption of cryptocurrencies, delivering over
$500 billion in volumes, up 340% year-on-year,” LMAX Group explained.
A more recent signal of LMAX Digital’s growth is its institutional spot
cryptocurrency
peak
volumes reported in May following the crypto market
rebound at the time.
The volumes reached $2.10 billion and $3.25
billion on two consecutive days during the month.
Meanwhile, LMAX Group in March partnered with the SIX Swiss Exchange, a major Swiss stock
exchange, to launch cash-settled and centrally cleared crypto-asset futures.
