On May 21, 2018, the famous British currency forex exchange LMAX Exchange announced the opening of crypto currency trading. So far, this service will not be available to individuals. LMAX Exchange has created a platform for institutional investors. The logic of such a step is extremely clear – the exchange with an annual turnover of 4 trillion US dollars is interested in large business. Now investment funds, pension funds, insurance organizations, credit unions (banks) will have an excellent opportunity to join the crypto-currency market with the help of a reliable financial institution. The Exchange expects that within the next 12 months, it will attract a huge number of institutional investors to the crypto currency market.
There are top 5 crypto currencies in the shortlist of trade instruments, namely Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash. We might seem to have visited CoinMarketCap and chosen the first five ones. Nothing of the kind. EOS, the fifth capitalization crypto, despite its colossal trading volumes, seems to have not inspired confidence in LMAX Exchange. It is something to think about
With its innovation, LMAX Exchange wants to occupy a niche in the cryptocurrency market, having superseded a large number of young exchanges that show quite good volumes, but cause distrust regarding their safety. The management of LMAX Exchange believes that its status as a reliable exchange with a large and successful trading experience will allow for attracting the lion’s share of market volumes. It is worth agreeing that the regulated trading platform with a secure infrastructure, which is the LMAX Exchange, is what the current market lacks.
The London Stock Exchange will not act solely as an intermediary in the auction, but will provide an opportunity to store the crypt on its protected online wallet. This gives reason to believe that in the near future LMAX Exchange will open the doors for individuals willing to trade crypto.