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LMAX = revolution?!?

  • #681
  • Mar 8, 2012 9:58am Mar 8, 2012 9:58am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting Marv
With the new direction LMAX has been taking after the new CEO's arrival, I don't blame GS for ditching it. It's no longer a good bet.
Could you be a bit more precise, if you don't mind. Thx.
  • #682
  • Mar 8, 2012 12:07pm Mar 8, 2012 12:07pm
Quoting onu
Could you be a bit more precise, if you don't mind. Thx.
Sure.

As you may already know, LMAX is established by the Betfair company (world's largest online betting company) and uses its technology. Betfair has the biggest stake in LMAX. Goldman Sachs also has a 12.5% stake in it (not anymore).

LMAX however has not been performing well. Betfair's CEO said that LMAX has "yet to achieve good traction with target customers", with sign-ups "significantly below original expectations". So LMAX's CEO Robin Osmond was replaced last year in April (source: http://www.telegraph.co.uk/finance/n...in-Osmond.html) by a Edmond Warner who used to run the IFX Group.

Not long after the new CEO took over LMAX, there has been some major changes with a new website, a new account structure (that treats customers unequally), higher deposit requirements, the API is no longer free, etc. All were changes that I did not consider to be good for the company.

And now we hear about Goldman Sachs ditching its share in LMAX, so there you go.
  • #683
  • Mar 8, 2012 12:35pm Mar 8, 2012 12:35pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting Marv
Sure.

As you may already know, LMAX is established by the Betfair company (world's largest online betting company) and uses its technology. Betfair has the biggest stake in LMAX. Goldman Sachs also has a 12.5% stake in it (not anymore).

LMAX however has not been performing well. Betfair's CEO said that LMAX has "yet to achieve good traction with target customers", with sign-ups "significantly below original expectations". So LMAX's CEO Robin Osmond was replaced last year in April (source: http://www.telegraph.co.uk/finance/n...in-Osmond.html)...
Thx Marv, very interesting.

I came across LMAX by the ongoing first time posters on their promo tours here for Armada and Universe, obviously white label clients of LMAX.
  • #684
  • Mar 8, 2012 1:05pm Mar 8, 2012 1:05pm
Quoting Jfk
Sure,

http://www.the-forex-strategy.com/in...rading-console
That plug in look very good! Will definately buy it. Never seen that before, thanks!
Forex is a losers game.
  • #685
  • Mar 8, 2012 1:23pm Mar 8, 2012 1:23pm
Quoting trader121
That plug in look very good! Will definately buy it. Never seen that before, thanks!
Take a look at IBFX's MT4, they have a lot of tools like that on their MT4
  • #686
  • Mar 8, 2012 1:35pm Mar 8, 2012 1:35pm
Quoting rooicol
Take a look at IBFX's MT4, they have a lot of tools like that on their MT4
Great if you want average spreads of 2 for eur/usd

http://www.fxintel.com/live/
  • #687
  • Mar 8, 2012 2:00pm Mar 8, 2012 2:00pm
Quoting Jfk
Great if you want average spreads of 2 for eur/usd

http://www.fxintel.com/live/
Why would anyone trade with a b.roker who has 2 pip spread on EUR/USD?
  • #688
  • Mar 8, 2012 2:01pm Mar 8, 2012 2:01pm
Quoting Marv
Sure.

As you may already know, LMAX is established by the Betfair company (world's largest online betting company) and uses its technology. Betfair has the biggest stake in LMAX. Goldman Sachs also has a 12.5% stake in it (not anymore).

LMAX however has not been performing well. Betfair's CEO said that LMAX has "yet to achieve good traction with target customers", with sign-ups "significantly below original expectations". So LMAX's CEO Robin Osmond was replaced last year in April (source: http://www.telegraph.co.uk/finance/n...in-Osmond.html)...
As we all know, retail fx is a crowded space. It's also full of shady practices (hence the overcrowding). Rich rewards for the unscrupulous. But a pure bilateral trading venue that is honest and transparent is a breath of fresh air in this industry. I take your point about LMAX lifting the bar for the small player, Marv, but they have decided to go after institutional business and let their IB's such as Armada target the small fish (whilst still offering all the benefits and more from LMAX). I mean we pay our commissions and that should be enough. GS had a 10% stake. Maybe they weren't making enough out if it. Maybe they felt it wasn't juicy enough. So, perhaps it's all for the good in the long run. Who knows. All I know is that I get an excellent and fair service from lmax/Armada. I'm keeping the faith.
  • #689
  • Mar 8, 2012 2:39pm Mar 8, 2012 2:39pm
Quoting Askandia
With Armada Markets you can also send your funds straight to LMAX. That is if you choose to trade with LMAX platforms and use Armada as an introducing broker. Besides being a preferred partner of LMAX they are also an introducing broker of LMAX. So take you pick. I went straight to Armada as this way I can trade with MT4 with my lower tha 10k deposit. But anybody can use them as introducing broker, too.

Can't find any information on their website about being a introducing broker to LMAX?
We're all stories in the end. Just try to make it a good one.
  • #690
  • Mar 8, 2012 3:21pm Mar 8, 2012 3:21pm
Besides letting their clients trade with LMAX spreads on the MT4, Armada Markets is in fact also an introducing broker of LMAX. I asked their chat today and they said that they will be launching LMAX platforms in 2 weeks time as they are still preparing their marketing campaign and have not yet decided on the pricing. I will continue to trade with MT4 with them though.
  • #691
  • Mar 9, 2012 7:37am Mar 9, 2012 7:37am
Is anyone else experiencing significant latency with LMAX right now?

The EURUSD seems to be trailing 10-15 points and hardly moving...

edit: It is moving but it's soooo delayed compared to my other feeds, this is weird!
"I made all my money by selling too soon"
  • #692
  • Mar 9, 2012 7:44am Mar 9, 2012 7:44am
It's come back now, but for five minutes there were some weird things going on!
"I made all my money by selling too soon"
  • #693
  • Mar 9, 2012 8:03am Mar 9, 2012 8:03am
Quoting Bleek
Is anyone else experiencing significant latency with LMAX right now?

The EURUSD seems to be trailing 10-15 points and hardly moving...

edit: It is moving but it's soooo delayed compared to my other feeds, this is weird!
The Eurusd on multicharts platform is not delayed.
  • #694
  • Mar 9, 2012 8:24am Mar 9, 2012 8:24am
Quoting traderliving
The Eurusd on multicharts platform is not delayed.
Well I have two independent network connections, two computes side-by-side and 4 platforms including Currenex.

The LMAX web platform was delayed for nearly 10 minutes, price hardly moved and when it did it lagged behind.

I even checked on my iPhone (Vodafone 3G) and the same issue was present.

It cleared up and to be honest I've never experienced that before, just had me worried for a while as I was trying to take profit!
"I made all my money by selling too soon"
  • #695
  • Mar 9, 2012 9:52am Mar 9, 2012 9:52am
Yes, I noticed some discrepancies earlier that lasted for a few minutes. I assumed it was my other Alpari feed that was lagging, but it must have been Lmax then. Talking of issues did anyone have any problems with the webtrader platform yesterday? It was even more "laggy" then, and pretty much unusable for about half an hour in the early afternoon I think (my sell button disappeared completely off the ticket!)
There is no top. There are always further heights to reach. Jascha Heifetz
  • #696
  • Mar 9, 2012 9:56am Mar 9, 2012 9:56am
I hope this isn't a sign of things to come. it's been great up till the last couple of days.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #697
  • Mar 10, 2012 7:23am Mar 10, 2012 7:23am
Hi Bleek,

Quoting Bleek
Well I have two independent network connections, two computes side-by-side and 4 platforms including Currenex.

The LMAX web platform was delayed for nearly 10 minutes, price hardly moved and when it did it lagged behind.
When precisely was this strange occurrence? I don't look at the LMAX web platform, but on the other hand I do have a variety of computers and network connections that log quotes from LMAX and other sources, especially on NFP days! It would be interesting to compare notes.

Cheers,

Jim
  • #698
  • Mar 14, 2012 4:16am Mar 14, 2012 4:16am
Quoting Trader131
Yes, I noticed some discrepancies earlier that lasted for a few minutes. I assumed it was my other Alpari feed that was lagging, but it must have been Lmax then. Talking of issues did anyone have any problems with the webtrader platform yesterday? It was even more "laggy" then, and pretty much unusable for about half an hour in the early afternoon I think (my sell button disappeared completely off the ticket!)
Just a quick follow up, I had a phone call from Jenna at LMAX who had read the thread and wanted to know more about it, and says they will be looking into it. It's nice to know they are wanting to improve the service.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #699
  • Mar 15, 2012 4:01am Mar 15, 2012 4:01am
This is ECN information, all of us should learn more about it, there are many resources on the web.
  • #700
  • Mar 15, 2012 6:51am Mar 15, 2012 6:51am
Pardon? LMAX is an MTF, not an ECN.

The two are not identical.

Jim
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