LMAX Global was authorized by CySEC to acquire Cyprus-regulated broker CB Capital Business ltd, which will allow LMAX to further expand its institutional and intermediary client base in Southern Europe, Cyprus and Middle East.
The leading FCA-regulated broker for FX and part of LMAX Exchange Group is targeting Cyprus for being a forex industry hub, currently the home of more than 200 regulated brokers. Brokerages and institutional market participants may benefit from LMAX’s enhanced provision of firm order-driven liquidity.
David Mercer, Chief Executive of LMAX Exchange Group, said: “This acquisition is an important step for us as we look to expand our institutional client offering across Southern Europe, the Middle East and further afield. As our Asia and US-based businesses continue to thrive, it was clear that Southern Europe and the Middle East should be the next areas of focus for us in terms of growth. This deal ensures that following the Brexit outcome our services will remain unaffected, whilst giving us the ability to serve clients in new established markets. We look forward both to improving our current institutional offering, as well as connecting with new businesses in the region.
“We fully expect controlled extension of our international footprint in the years ahead in line with our exceptional growth making us one of the most efficient FX operators in the industry”, Mercer added.
LMAX has embarked in an international expansion strategy to broaden the company’s global presence. At the moment, LMAX Exchange Group is present in over 100 countries, with eleven offices in the UK, US, EU and the APAC region. The Cyprus-regulated broker CB Capital Business is due transfer its shares to LMAX Global and rebrand as LMAX Global’s European legal entity: LMAX Broker Europe ltd.
In February 2019, LMAX Exchange Group appointed Jason Huang as Head of Sales for the Asia Pacific region and Shang Lin as Institutional Sales Executive for the Asia Pacific region as part of its expansion plans in the region.In June 2018, Roland White was appointed to the recently created role of Global Head of Institutional Sales, responsible for advancing the company’s global growth strategy in the institutional segment, leading the institutional sales team and strengthening relationships with institutions and stakeholders internationally.