LMAX Group Introduces FX NDFs Trading in Singapore and London

LMAX Group, a leading operator of institutional exchanges for FX and digital assets trading, has launched FX Non-Deliverable Forwards (NDFs) trading in two matching centres, Singapore (SG1) and London (LD4).

Late last year LMAX Exchange, the Group's global institutional FX exchange, has secured a Recognised Market Operator (RMO) licence​ from the Monetary Authority of Singapore (MAS), which allows the company to provide NDF trading in Singapore and London.

Initially, FX NDF trading on LMAX Exchange via Singapore and London will deliver top Asian USD crosses, with LATAM crosses to follow. The FX NDFs are traded on a central limit order book (CLOB), offering transparent price discovery and precise, consistent execution to all market participants.

Matt DellaRocca, Head of Liquidity and Analytics, APAC, LMAX Exchange, stated, "We are delighted to go live with this offering, which will provide local FX market participants with access to an expanded pool of NDF liquidity through a regulated exchange venue and a CLOB model that delivers efficient market structure and transparent, precise, consistent execution. We look forward to supporting our global customers as we expand our FX offering for customers operating in the Asia Pacific region."

David Mercer, CEO, LMAX Group, said, "As demand for institutional liquidity for Asian currencies continues to grow, adding NDFs to our global FX offering is a logical next step following the launch of our matching engine in SG1 in 2022. We recognise the significant potential that remains untapped in the Asian FX market and will continue to broaden our product suite, expand our distribution capabilities globally, and build the leading institutional FX marketplace."

Last week, LMAX Group has named Chris Knight​, an experienced financial markets professional with 30 years in capital markets and FX, as its Managing Director.