Managing Director of LMAX Digital talks About soon-to-be-released crypto future products

At this year’s CryptoCompare Digital Asset Summit, Jenna Wright, Managing Director at LMAX Digital, was interviewed by James Harris, Commercial Director at leading digital asset market data provider CryptoCompare.

About LMAX Digital

The LMAX Group describes itself as “a global financial technology corporation and the largest independent operator of various institutional execution venues for FX and cryptocurrency trading.”

The Group designs and runs its own high-performance, ultra-low latency exchange infrastructure, which includes matching engines in London, New York, and Tokyo, with offices in nine countries and a global client base. LMAX Exchange, LMAX Global, and LMAX Digital are among the LMAX Group’s businesses.

LMAX Group operates an institutional cryptocurrency exchange that is “licensed by the Gibraltar Financial Services Commission (GFSC) as a DLT provider for execution and custody services.”

LMAX Digital “delivers a market-leading solution for physical trading and custodial services for the most liquid cryptocurrencies” by leveraging LMAX Group’s “proven, strong technology and liquidity partnerships.” as BTC (Bitcoin), ETH (Ethereum), BCH (Bitcoin Cash, LTC (Litecoin), ), SOL (Solana) and XRP (Ripple).”

Crypto future product

Wright provided the following background about LMAX Group when asked:

“Since 2010, the LMAX Group has operated foreign exchange venues in London, New York, and Tokyo. therefore, we’ve been in capital markets for a while and trade roughly $25 billion in foreign exchange every day. In 2017, a number of our existing non-bank institutional clients asked if we might explore the crypto market.”

Wright cited the imminent introduction of their crypto futures product when asked about their goals for this year. As you may be aware, on March 17, LMAX Group announced a partnership with SIX Swiss Exchange to create “cash-settled, centrally cleared crypto-asset futures” via a press release.

This launch is scheduled for Q3, 2022, pending regulatory permission, and would “first contain centrally cleared USD settled Bitcoin and Ethereum futures trading 24 hours a day, five days a week,” with the full product launch “expanding to 24/7 trading.”

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing