Genesis Markets Announces Partnership with LMAX Digital, will Help to Increase Appeal amongst Institutional Players - The Industry Spread

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.

Genesis Markets

Genesis Markets Announces Partnership with LMAX Digital, will Help to Increase Appeal amongst Institutional Players

July 18, 2018

LMAX GlobalGenesis Markets, the cryptocurrency brokerage project of Genesis Vision has announced a partnership with institutional cryptocurrency exchange LMAX Digital, which is operated by UK Fx trading venue LMAX Exchange.

The partnership will provide client’s of Genesis market access to all features of LMAX Digital which includes institutional grade liquidity and exchange-quality execution. Alongside, matching buyers with sellers within an anonymous execution venue, LMAX Digital offers clients with transparent price discovery and conflict-free execution in all major cryptocurrencies including Bitcoin, Ethereum and Litecoin.

LMAX Digital operates under similar rules and governance of its parent’s FCA-regulated multilateral facility (MTF) whose functionality is based on venue’s existing technology stack. In simple terms, the exchange offers to trade in digital assets at the request of existing institutional client base.

BitcoinFor Genesis Markets, the real effect of the partnership will not be visible to the end-users. The partnership will allow Genesis Markets to improve liquidity offerings for retail clients, but its main targets are big players who have been reluctant to transact these new assets given its complexities in holding and securing them. The partnership also opens a door for fiat-crypto deposits and withdrawals for GM clients, which is yet to get launched.

LMAX offer crypto-fiat trading and also allows direct exchange of fiat money for cryptocurrencies. Regarding, targeting of bigger clients by Genesis which could be explained by LMAX’s cryptocurrency custodian services to clients who trade on its exchange. This one particularly solves one of the key problems, that helps institutional investors from playing around in the virtual asset class.

The company explained:

“A regular retail client might never experience the lack of liquidity on, let’s say, Binance. But LMAX’s liquidity dwarfs Binance’s liquidity, making Genesis Markets quite lucrative for funds and crypto sharks alike.”

Genesis further added: “Having such a reputable and legitimate powerhouse on our side makes us feel much more confident about the prospect of fiat gateways,”

Genesis Market mainly aggregates liquidity from multiple exchanges to provide deeper order books to its clients and the firm’s platform is linked to Binance. The company is undergoing negotiations with several other exchanges to join with them.

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