LMAX Group launches a new matching engine to expand into Singapore

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

LMAX Group has announced that it will expand its technology infrastructure within the Asia-Pacific region. This will be enabled by launching a new matching engine within the Equinix IBX Data Center in Singapore. The platform was launched earlier this year.

LMAX Group to launch a matching engine

This will be the fourth matching engine that is run by LMAX globally. Before this matching engine was launched in Singapore, LMAX launched a regional hub in 2015. The launch of this data center is expected to boost regional liquidity.

The CEO of LMAX Group, David Mercer, commented on this development, saying that Singapore was the largest forex trading center in the Asia Pacific and was also a leading FX center globally.

“We recognize the strong demand for deep institutional liquidity and transparent, efficient price discovery that the CLOB execution model delivers to market participants in the region,” Mercer added.

Plans to expand into Singapore

The LMAX Group is currently providing spot FX trading services in Singapore. It has already revealed plans to ensure that global trading capabilities could be achieved through various products.

LMAX is seeking approval for its services from the Monetary Authority of Singapore. The approval is for the company to provide non-deliverable forwards by early next year. The company is also seeking regulatory approval to expand its global Digital and Broker offering to the Asia Pacific region.

The focus of LMAX on the Asia-Pacific region has been an ongoing development for many years. Moreover, the addition of the matching engine based in Singapore comes after the company launched a Tokyo matching engine dubbed TY3. This engine was launched in 2014. The company is seeing potential in enhancing market access by launching an Asia-Pacific corridor for its twin hubs based in Singapore and Tokyo.

The LMAX Group owns three portfolio companies known as the LMAX Exchange, which is an institutional exchange and MTF, LMAX Global, which is operated by the FCA and the CySEC, and LMAX Digital, which is regulated in Gibraltar, which provides spot cryptocurrency services.

This announcement has also proven that the SG1 matching engine is already seeing adoption. There is also growing interest from institutional investors. In 2021, the profits of LMAX Group increased by 68% to $106 million. Additionally, the gross revenue of the company jumped by 80%.

The Managing Director of LMAX Group in the Asia Pacific region, Quentin Miller, commented on this development saying that the Singapore matching engine would bring the company closer to clients based in the region. Moreover, there was a three times growth in the FX trading volumes month on month.


Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Invezz.com, Business2Community, BeinCrypto, and more.