JC Flowers acquires 30% stake in FX and crypto exchange LMAX

[ad_1]

U.S. private equity investor JC Flowers has acquired a 30% stake in cryptocurrency exchange and exchange operator LMAX Group for $ 300 million.

LMAX confirmed in a statement that the cash acquisition values ​​the London-based group at $ 1 billion and that CEO David Mercer will continue to lead the company after retaining a substantial stake in the company with his team. of management.

The forex specialist operates five exchanges around the world with corresponding engine infrastructure in London, New York and Tokyo. LMAX expanded its operations in the crypto space in 2018 and launched LMAX Digital for spot crypto trading, which now serves over 500 institutional clients.

LMAX Group’s exchange infrastructure offers efficiency and transparency, two things in high demand by the growing number of institutional participants in currency and cryptocurrency trading, said Chris Flowers, Managing Director and CEO of JC Flowers.

David and his management team have been driving tremendous international growth in recent years, and we look forward to supporting them as they continue to expand their support to key players in the global institutional market.

LMAX added that it will use the funds and partner with JC Flowers to expand its forex and crypto business in the United States and Asia. The trading platform recently hired the former global head of Euronext FX sales in a new role to lead the company’s sales efforts in the Americas.

JC Flowers’ minority investment in LMAX marks another major deal for crypto as market players continue to launch platforms and sites for institutional investors engaging in digital assets.

Last month, cross-industry broker TP ICAP confirmed plans to partner with Fidelity and Flow Traders to launch a crypto platform, while German stock exchange group Deutsche Brse acquired a minority stake in the trading and brokerage firm. of crypto, Crypto Finance.

This is an important step in the evolution of the LMAX group that justifies our cutting-edge business model and the role we must play in the forex and cryptocurrency markets of the future, commented the CEO of LMAX. , Mercer.

Not only have we identified a like-minded partner in JC Flowers who understands global financial markets and brings valuable connectivity to strengthen the LMAX Group’s presence in North America and Asia, but a partner who shares our vision to make of the company the world’s leading FX. and cryptocurrency exchange.

[ad_2]