LMAX Exchange offers FX swaps matching, built on a proprietary credit intermediation model that separates liquidity from credit and is designed to meet the requirements of buy-side institutions. Our model provides a robust and anonymous source of liquidity, reducing market impact and minimising the effects of volatility. This approach enhances both the resilience and efficiency of the swaps market. With matches taking place every day, we offer fixed-cost FX swap liquidity for your daily trading needs.
Matches occur for straight Weekly, 1M, 3M, month-end, and IMM standard settlement dates.
- Month-End 1M – details
- Mid-point matching at published benchmarked rates.
- Multiple matching dates leading up to, and including, month-end.
- Single month-end execution.
- Mid-Month 1M – details
- Mid-point matching at published benchmarked rates.
- Multiple matching dates with daily execution.
- Standardised monthly settlement dates.
- Quarterly IMM – details
- Mid-point matching at published benchmarked rates.
- Multiple matching dates with daily execution.
- Standardised quarterly settlement dates.
Access the FX swaps platform by clicking Login
- Achieve benchmark execution in all market conditions
- Automated workflows to work seamlessly within existing trading processes
- Free from market impact and information leakage
- Anonymous matching against benign flow
- Access to a network of global credit providers
- Apply equal pricing across all accounts
- Significantly reduce workflow overhead
Alongside our FX swaps offering and built on the same credit intermediation model, our bespoke FX execution management system democratises liquidity and streamlines workflows, providing buy-side firms with unhindered access to liquidity across instruments and sources, including banks, non-banks, and peers.
- Benefits for buy-side clients – details
- Broad Liquidity Sources:Access diverse liquidity sources, without broker restrictions, enhancing execution quality and reducing costs.
- Maximise Internal Netting: Defragment orders for consistent execution, reducing transaction costs.
- Seamless OMS Integration: Use existing OMS platforms to deliver trading efficiencies, cost savings, and improve overall market access.
- Benefits for the sell-side – details
- Modern Account Allocations Tool: Receive account-level allocations, simplifying the allocation process and reducing costs.
- Liquidity Distribution: Bypass broker restrictions and distribute liquidity to a broader range of clients.
- Algorithm application: Deploy algos to reach new real-money clients.
- Lower Regulatory Capital: Optimise counterparty mix, reducing regulatory capital requirements.