Exchange Group announces record interim results 2019">
LMAX Exchange Group, an independent operator of institutional exchanges for electronic FX trading and crypto currencies, has just reported excellent growth and record financial performance for the six months to 30th June 2019.
Interim Results 2019 – financial highlights:
- Gross Profit of US$25.8m, up 27% from H1 2018
- Statutory EBITDA of US$11.3m, up 50% from H1 2018
- EBITDA Margin of 44%, up 7% from H1 2018
- Notional trading volume across exchanges up 9% from H1 2018
The company’s improved EBITDA and rising margins has made LMAX Exchange one of the most profitable operators in the FX execution sector.
LMAX Digital volumes have grown exponentially to a high of $8.5 billion in June 2019, producing a standalone EBITDA of $1.5m. LMAX Digital officially launched in May 2018. Since then over $20 billion worth of cryptocurrencies has been traded on the exchange. LMAX Digital has been granted a license as a Distributed Ledger Technology (DLT) Provider from the Gibraltar Financial Services Commission (GFSC) back in April.
David Mercer, CEO of LMAX Exchange, commented on the news:
Building on our record year in 2018, we have succeeded on continuing the strong momentum into the first half of 2019 and have broken yet more records. LMAX Digital, our institutional-only crypto currency exchange, has achieved outstanding results with over 7 million trades completed since launch and is our fastest ever growing exchange.
Based on continued requirements from institutional investors across our venues for order-driven, firm liquidity and the appreciation for our focus on transparency, precision and consistency in execution, we maintain our positive outlook for the rest of 2019 and are excited about what lies ahead for LMAX Exchange Group.
LeapRate reminds that earlier this month CySEC has formally approved LMAX Global’s application for a purchase of Cyprus-regulated broker CB Capital Business ltd.
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LMAX Exchange Group announces record interim results 2019 was first posted on July 29, 2019 at 11:53 am.