LMAX = Revolution ?!

P

Peternam

http://www.lmaxtrader.co.uk/why-lmax



"Its like the other ECNs, with the exception that they are regulated as a so called MTF, which under european regulatory regime is something like a light-weight exchange. Means, they have to disclose who their members are (liquidity-providers, broker-members) and have to publish an exchange rulebook, contract specifications, and so on. They have central clearing via LCH.Clearnet too(means it removes any doubts about the broker being counterparty, also mitigates broker default risk). It works pretty much like a real futures exchange, like cme or eurex. See: http://mtf.lmax.com

At the moment they only have 3 liquidity providers (goldman, jpm and optiver) and one broker member. Hopefully they will add more later. Its backed by Goldman and the betfair people.

I think this approach adds real transparency, unlike other ecns who dont even publish their members, or official exchange rules. I still wont trade with them since at the moment they only offer accounts in GBP. Will keep an eye on this tho."

forexfactory.com/showthread.php?p=4194049&posted=1
 
v.interesting thanks

http://www.cleanfinancial.com/lmax.php
"LMAX Authorised by the Financial Services Authority - 27 July 2010

LMAX Limited has announced that it has received Financial Services Authority (FSA) authorisation and plans to launch and operate a multilateral trading facility (MTF) to trade contracts for difference.

Immediately prior to FSA authorisation Goldman Sachs, pursuant to an agreement entered into in 2009, acquired a 12.5% stake in LMAX Limited's parent company London Multi-Asset Exchange (Holdings) Limited.

LMAX was established by Betfair, the world's leading sports betting exchange, in 2007, to enter the market for online retail financial trading. Betfair is the majority shareholder in the company. "

predominantly non-US forum member

Quote from Peternam:

http://www.lmaxtrader.co.uk/why-lmax



"Its like the other ECNs, with the exception that they are regulated as a so called MTF, which under european regulatory regime is something like a light-weight exchange. Means, they have to disclose who their members are (liquidity-providers, broker-members) and have to publish an exchange rulebook, contract specifications, and so on. They have central clearing via LCH.Clearnet too(means it removes any doubts about the broker being counterparty, also mitigates broker default risk). It works pretty much like a real futures exchange, like cme or eurex. See: http://mtf.lmax.com

At the moment they only have 3 liquidity providers (goldman, jpm and optiver) and one broker member. Hopefully they will add more later. Its backed by Goldman and the betfair people.

I think this approach adds real transparency, unlike other ecns who dont even publish their members, or official exchange rules. I still wont trade with them since at the moment they only offer accounts in GBP. Will keep an eye on this tho."

forexfactory.com/showthread.php?p=4194049&posted=1
More...
 
I could open an account with them (I reside in multiple countries).

But add my vote for "NOT excited."


Look at the parentage and think about the genetics coming down through the children. Yuck.


Hint: At the moment they only have 3 liquidity providers (goldman, jpm and optiver) and one broker member. Hopefully they will add more later. Its backed by Goldman and the betfair people.
 
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