LMAX Group, the London-based fintech well known in forex and digital assets, is now stepping into leveraged crypto derivatives. They have rolled out perpetual futures for Bitcoin (BTC) and Ether (ETH), aimed at institutional clients, think trading firms, asset managers, and brokerages.
With this, it aims to expand its crypto trading and custody platform, giving professional traders more ways to play the market. According to a Bloomberg report, the exchange, which processes over $40 billion in daily spot trading volume across forex and digital assets, introduced perpetual futures, contracts similar to traditional futures but without an expiration date, offering up to 100x leverage.
“Perpetual futures have dominated the crypto market for the last three or four years,” said LMAX CEO David Mercer. “What we have heard from our customers including some of the biggest proprietary trading firms and brokers is that they are looking for that leveraged access into crypto.”
A Kaiko report notes that such contracts accounted for 68% of Bitcoin trading volume through mid-June, underscoring their dominance in the crypto space.
LMAX’s crypto futures entry reflects industry shift
LMAX’s entry follows similar moves by regulated platforms, with Coinbase Financial Markets launching comparable contracts in July. Further, the Chicago Board Options Exchange (Cboe) is planning to launch new continuous futures for Bitcoin (BTC) and Ethereum (ETH) in November.
Major crypto exchanges like Binance, Bybit, and OKX hold about 70% of the market’s open interest, with daily perpetual futures volumes ranging from $10 billion to $30 billion, and Binance peaking at $80 billion, per Kaiko.
The expansion reflects a broader shift in the cryptocurrency industry, where tools initially built for speed and speculation are being adapted for compliance, liquidity, and capital efficiency to serve institutional needs.
Operating forex brokers in the UK, Europe, New Zealand, and Mauritius, LMAX’s pivot into crypto derivatives highlights the growing integration of digital assets into traditional finance, catering to institutional investors seeking regulated, high-leverage opportunities in the evolving crypto market.
Also Read: Coinbase: Stablecoins Don’t Drain Bank Deposits, Calls It a ‘Myth’
