17 July 2019 - LMAX Global, part of LMAX Exchange Group, today announces that CySEC has formally approved its application for a purchase of the Cyprus-regulated broker CB Capital Business Ltd. According to the company, once complete, the deal will allow LMAX Global to build out and better serve its Southern European, Cypriot and Middle Eastern institutional and intermediary client-base.
Through this acquisition, LMAX Exchange Group intends to expand its presence in the Southern European and Middle East regions where, in Cyprus alone, there are over 200 regulated brokers. The company will offer enhanced provision of firm order-driven liquidity to brokers and institutional market participants in these core growth markets.
Commenting on the acquisition, 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.”
The acquisition is part of the Group’s international expansion strategy which aims to broaden the company’s global presence in order to provide better market access to its clients. Currently, LMAX Exchange Group services clients in over 100 countries from its eleven offices in the UK, US, EU and throughout Asia Pacific.
David Mercer added: “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.”
Following the transfer of shares to LMAX Global, the new regulated entity will sit under the LMAX Global brand, as a European legal entity – “LMAX Broker Europe Ltd”.
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