Betfair / LMAX
Dear Peter,
I called today to introduce myself as your personal account manager with LMAX Trader, but I was unfortunately unable to get hold of you.
As your account manager I will be able to assist you with any queries you have about your account and our service. Please feel free to give me a call if you have any questions.
I wish you luck in your trading with us and look forward to hearing from you if I can be of any assistance.
Kind regards,
XXXX XXXXXXX
The LMAX Trader team
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
The above link seems to require a user name and password. I found the article I think without the need for a Username/PW:
LMAX launches with vow to link investors
By Philip Stafford
Published: October 25 2010 01:54 | Last updated: October 25 2010 01:54
LMAX, the financial trading spin-off from Betfair, is to launch on Monday promising to offer retail investors the same technological benefits that have reshaped institutional trading in recent years.
The platform aims to connect retail investors across the internet and take a commission on their trade in much the same way its parent Betfair has done in the gambling market.
LMAX aims to take market share from established spread-betting firms, such as IG Index,as well as attract business from smaller retail market-focused stockbrokers.
“We are the first single venue that is multi-asset anywhere in the world,” said Robin Osmond, chief executive. “Really we are a better proposition as we are fair and open. We don’t take a position against our clients.”
Initially, the group will allow customers to trade contracts-for-difference in market indices, fixed income instruments, commodities and foreign exchange, although single stock equities are planned for early next year.
The London-based group was created out of Betfair two years ago, and its parent still owns a 73.5 per cent stake. Goldman Sachs holds a 12.5 per cent share in the equity, while the rest is held by management.
Last week, Betfair, the world’s largest betting exchange, became a rare initial public offering success story in London when its shares rose 19 per cent in conditional trading.
Mr Osmond, a former investment banker at JPMorgan, HSBC and Morgan Stanley, said pricing would be transparent – a so-called lit exchange – and would not be hidden from the market.
“We’re not into dark pools,” he said, referring to block trading venues where prices are only revealed after deals are done.
Betfair has sometimes faced criticism that its platform has attracted other businesses acting as market-makers, who make money by creating markets on the exchange.
Goldman, JPMorgan and Optiver, a Dutch market-maker and one of the world’s largest “high-frequency trading” firms, will provide liquidity for LMAX.
“We don’t want to open up the model to become another platform for hedge funds,” said Mr Osmond, pointing out that it was enshrined in its rule book that was approved by the Financial Services Authority, the City regulator.
LCH.Clearnet will clear the CFD trades and JPMorgan will clear foreign exchange, meaning LMAX will not take the risk should one party default.
Source: http://www.ft.com/cms/s/0/a164bcc8-dfb3 ... abdc0.html
LMAX launches with vow to link investors
By Philip Stafford
Published: October 25 2010 01:54 | Last updated: October 25 2010 01:54
LMAX, the financial trading spin-off from Betfair, is to launch on Monday promising to offer retail investors the same technological benefits that have reshaped institutional trading in recent years.
The platform aims to connect retail investors across the internet and take a commission on their trade in much the same way its parent Betfair has done in the gambling market.
LMAX aims to take market share from established spread-betting firms, such as IG Index,as well as attract business from smaller retail market-focused stockbrokers.
“We are the first single venue that is multi-asset anywhere in the world,” said Robin Osmond, chief executive. “Really we are a better proposition as we are fair and open. We don’t take a position against our clients.”
Initially, the group will allow customers to trade contracts-for-difference in market indices, fixed income instruments, commodities and foreign exchange, although single stock equities are planned for early next year.
The London-based group was created out of Betfair two years ago, and its parent still owns a 73.5 per cent stake. Goldman Sachs holds a 12.5 per cent share in the equity, while the rest is held by management.
Last week, Betfair, the world’s largest betting exchange, became a rare initial public offering success story in London when its shares rose 19 per cent in conditional trading.
Mr Osmond, a former investment banker at JPMorgan, HSBC and Morgan Stanley, said pricing would be transparent – a so-called lit exchange – and would not be hidden from the market.
“We’re not into dark pools,” he said, referring to block trading venues where prices are only revealed after deals are done.
Betfair has sometimes faced criticism that its platform has attracted other businesses acting as market-makers, who make money by creating markets on the exchange.
Goldman, JPMorgan and Optiver, a Dutch market-maker and one of the world’s largest “high-frequency trading” firms, will provide liquidity for LMAX.
“We don’t want to open up the model to become another platform for hedge funds,” said Mr Osmond, pointing out that it was enshrined in its rule book that was approved by the Financial Services Authority, the City regulator.
LCH.Clearnet will clear the CFD trades and JPMorgan will clear foreign exchange, meaning LMAX will not take the risk should one party default.
Source: http://www.ft.com/cms/s/0/a164bcc8-dfb3 ... abdc0.html
, especially as I find the website 'sticky' but that may be my system?Looks like they're having system's issues already as I couldn't get graph for EUR/CHF market. I phoned them and they came back 10 minutes later saying graphs are provided by third party vendor and they're looking into right away but didn't say when the problem will be resolved only that it will be ASAP.
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aligammack
- Posts: 104
- Joined: Wed Apr 15, 2009 2:49 pm
Yeah, I'm having graph issues. I thought it was my connection at first as they were taking ages to load.
A ladder interface would make this much more appealing.
I guess at the end of the day it is new and things should only get better especially as it offers api.
A ladder interface would make this much more appealing.
I guess at the end of the day it is new and things should only get better especially as it offers api.
I've been busying playing on LMAX this week but the 'true' liquidity is very poor at the moment. There are loads of people seeding the market, but very few participants. I guess it will grow but there is little there at the moment. By putting in odd lots out of the money, I can see my orders and roughly where I am in the queue, but very little is happening around me. Don't know if any body else has had a play?
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oddstrader
- Posts: 344
- Joined: Fri Apr 16, 2010 4:55 pm
i plan to but wanted to wait and see what the shrewd amongst us had to say about it.Bet Angel wrote:I've been busying playing on LMAX this week but the 'true' liquidity is very poor at the moment. There are loads of people seeding the market, but very few participants. I guess it will grow but there is little there at the moment. By putting in odd lots out of the money, I can see my orders and roughly where I am in the queue, but very little is happening around me. Don't know if any body else has had a play?
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oddstrader
- Posts: 344
- Joined: Fri Apr 16, 2010 4:55 pm
Just wondering if anyone has made some green trades on lmax yet?
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oddstrader
- Posts: 344
- Joined: Fri Apr 16, 2010 4:55 pm
it would be great if it turned into a viable side line for us , particularly in the winter months etc.