LMAX Group Hires Sean Cleary as Head of Liquidity Management for Americas

LMAX Group, a fintech firm providing FX and cryptocurrency trading, has announced the appointment of Sean Cleary as its Head of Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term Management and Analytics for Americas. At LMAX Group, Cleary will assist in overseeing analytics and liquidity across the company’s suite of products for all customers in the Americas. Furthermore, he will play a crucial role in creating and implementing the group’s institutional FX growth strategy in the region. Cleary will report to Patrick Bartle, the Managing Director for Americas at LMAX Group, and will be based in New York.

Cleary brings in-depth institutional FX industry experience to this position. In the past, he helped grow and develop global sales teams for market infrastructure participants such as ICAP, Currenex, CBOE Global Markets and BNP Paribas.

Commenting on the announcement, Bartle stated: “I am very pleased to announce the addition of Sean Cleary to LMAX Group at such an exciting time for the business as it continues to show strong growth across all products, allowing us to build and attract the very highest calibre of people to the team. Sean has tremendous depth and breadth of experience in the markets and will be a key asset as we execute the next phase of our growth strategy with the vision of becoming the pre-eminent global exchange for FX and cryptocurrency trading.”

Meanwhile, Cleary added: “I’ve followed the rapid expansion of LMAX Group over recent years and am delighted to now be joining the team. The business has considerable opportunities that lie ahead in the US institutional market and globally, and I look forward to contributing to the Group’s future growth.”

Firms Are Striving to Meet High Demand in Digital Assets

The development by LMAX comes at a time when the firm is keen on expanding its trading offerings. In July last year, the company hired Paul Ainsworth, the former Global Head of Sales of Euronext FX, to oversee its institutional sales for the Americas. Also, in July last year, LMAX sold its 30% stake to the US private equity investor, JC Flowers in order to accelerate its growth and innovation. The company used the funds to expand its business in both FX and cryptocurrency in the US and Asia. LMAX operates in five exchanges across the world with matching engine infrastructure in Tokyo, New York and London. The FX market specialist expanded its business operations into the cryptocurrency landscape in 2018 and established LMAX Digital for spot crypto trading, which currently serves over 500 institutional clients. The LMAX Group is dedicated to fulfilling the high demand by the rising number of institutional players in cryptocurrency and foreign exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term trading.

JC Flower’s minority investment in LMAX marked a significant deal as market players continue launching platforms and avenues aimed at meeting the needs of institutional investors who engage with digital assets. In June last year, Interdealer broker TP ICAP partnered with market maker Flow Traders and Fidelity Digital Assets to develop and launch a cryptocurrency trading platform. Furthermore, last month, the European stock exchange operator, Deutsche Börse expanded its digital asset offering by acquiring a majority stake in a Swiss trading and brokerage firm, Crypto Finance AG.