LMAX Group, a fintech firm providing FX and crypto currency trading, has announced the appointment of Sean Cleary as its head of
liquidity
Liquidity
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Read this Term management and analytics for Americas. At LMAX Group, Cleary will assist in overseeing analytics and liquidity across the company’s suite of products for all customers in the Americas. Furthermore, he will play a crucial role in creating and implementing the group’s institutional FX growth strategy in the region. Cleary will report to Patrick Bartle, Managing Director for Americas at LMAX Group, and will be based in New York.
Cleary brings in-depth institutional FX industry experience to this position. In the past, he helped grow and develop global sales teams for market infrastructure participants such as ICAP, Currenex, CBOE Global Markets, and BNP Paribas.
Patrick Bartle, Managing Director for Americas at LMAX Group, talked about the development and said: “I am very pleased to announce the addition of Sean Cleary to LMAX Group at such an exciting time for the business as it continues to show strong growth across all products, allowing us to build and attract the very highest calibre of people to the team. Sean has tremendous depth and breadth of experience in the markets and will be a key asset as we execute the next phase of our growth strategy with the vision of becoming the pre-eminent global exchange for FX and crypto currency trading.”
Meanwhile, Cleary also commented about the development and stated: “I’ve followed the rapid expansion of LMAX Group over recent years and am delighted to now be joining the team. The business has considerable opportunities that lie ahead in the US institutional market and globally, and I look forward to contributing to the Group’s future growth.”
Firms Are Striving to Meet High Demand in Digital Assets
The development by LMAX comes at a time when the firm is keen on expanding its trading offerings. In July last year, the company hired Paul Ainsworth, former Euronext FX global sales head, to oversee its institutional sales for the Americas. Also, in July last year, LMAX sold its 30% stake to US private equity investor JC Flowers in order to accelerate its growth and innovation. The company used the funds to expand its business in both FX and cryptocurrency in the US and Asia. LMAX operates in five exchanges across the world with matching engine infrastructure in Tokyo, New York, and London. The FX market specialist expanded its business operations into the cryptocurrency landscape in 2018 and established LMAX Digital for spot crypto trading, which currently serves over 500 institutional clients. The LMAX Group is dedicated to fulfilling the high demand by the rising number of institutional players in cryptocurrency and foreign
exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
Read this Term trading.
JC Flower’s minority investment in LMAX marked a significant deal as market players continue launching platforms and avenues aimed at meeting the needs of institutional investors who engage with digital assets. In June last year, Interdealer broker TP ICAP partnered with market maker Flow Traders and Fidelity Digital Assets to develop and launch a cryptocurrency trading platform. Also, last month, European stock exchange operator Deutsche Börse expanded its digital asset offering by acquiring a majority stake in a Swiss trading and brokerage firm Crypto Finance AG.
LMAX Group, a fintech firm providing FX and crypto currency trading, has announced the appointment of Sean Cleary as its head of
liquidity
Liquidity
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Read this Term management and analytics for Americas. At LMAX Group, Cleary will assist in overseeing analytics and liquidity across the company’s suite of products for all customers in the Americas. Furthermore, he will play a crucial role in creating and implementing the group’s institutional FX growth strategy in the region. Cleary will report to Patrick Bartle, Managing Director for Americas at LMAX Group, and will be based in New York.
Cleary brings in-depth institutional FX industry experience to this position. In the past, he helped grow and develop global sales teams for market infrastructure participants such as ICAP, Currenex, CBOE Global Markets, and BNP Paribas.
Patrick Bartle, Managing Director for Americas at LMAX Group, talked about the development and said: “I am very pleased to announce the addition of Sean Cleary to LMAX Group at such an exciting time for the business as it continues to show strong growth across all products, allowing us to build and attract the very highest calibre of people to the team. Sean has tremendous depth and breadth of experience in the markets and will be a key asset as we execute the next phase of our growth strategy with the vision of becoming the pre-eminent global exchange for FX and crypto currency trading.”
Meanwhile, Cleary also commented about the development and stated: “I’ve followed the rapid expansion of LMAX Group over recent years and am delighted to now be joining the team. The business has considerable opportunities that lie ahead in the US institutional market and globally, and I look forward to contributing to the Group’s future growth.”
Firms Are Striving to Meet High Demand in Digital Assets
The development by LMAX comes at a time when the firm is keen on expanding its trading offerings. In July last year, the company hired Paul Ainsworth, former Euronext FX global sales head, to oversee its institutional sales for the Americas. Also, in July last year, LMAX sold its 30% stake to US private equity investor JC Flowers in order to accelerate its growth and innovation. The company used the funds to expand its business in both FX and cryptocurrency in the US and Asia. LMAX operates in five exchanges across the world with matching engine infrastructure in Tokyo, New York, and London. The FX market specialist expanded its business operations into the cryptocurrency landscape in 2018 and established LMAX Digital for spot crypto trading, which currently serves over 500 institutional clients. The LMAX Group is dedicated to fulfilling the high demand by the rising number of institutional players in cryptocurrency and foreign
exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
Read this Term trading.
JC Flower’s minority investment in LMAX marked a significant deal as market players continue launching platforms and avenues aimed at meeting the needs of institutional investors who engage with digital assets. In June last year, Interdealer broker TP ICAP partnered with market maker Flow Traders and Fidelity Digital Assets to develop and launch a cryptocurrency trading platform. Also, last month, European stock exchange operator Deutsche Börse expanded its digital asset offering by acquiring a majority stake in a Swiss trading and brokerage firm Crypto Finance AG.
Source: https://www.financemagnates.com/executives/lmax-group-hires-sean-cleary-as-head-of-liquidity-management-for-americas/