LMAX Singapore Secures Market Operator License from MASby Fintech News Singapore November 22, 2023
LMAX Exchange Singapore, a subsidiary of LMAX Group that operates institutional exchanges for trading FX and digital assets, has been granted a Recognised Market Operator (RMO) license by the Monetary Authority of Singapore (MAS).
This license allows the group to offer its Non-Deliverable Forward (NDF) trading in Singapore and London. The launch of NDF trading will enable clients to hedge foreign exchange exposure against non-convertible currencies.
This will be facilitated through a Central Limit Order Book (CLOB), ensuring transparent pricing, increased liquidity, and an efficient market structure. The system will provide real-time market data to all participants.
This development is part of LMAX Group’s ongoing efforts to diversify its offerings for its global clientele, particularly in the Asia Pacific region.
David Mercer, CEO, LMAX Group said,
“The Monetary Authority of Singapore is among the most progressive and innovative regulators globally.
We look forward to a continued, symbiotic relationship with MAS as we progress our expansion plans and build out our cross-asset product offering in the region for the benefit of local customers and the broader, vibrant, Asia Pacific market.”
Matt DellaRocca, Head of Liquidity and Analytics, APAC, LMAX Exchange added,
“As Singapore becomes an increasingly important hub for global FX trading, we are delighted to have the support and recognition from MAS.
We continue to expand our product offering to meet growing local demand for transparent price discovery and access to deep institutional liquidity and look forward to strengthening our institutional client relationships across Asia.”