LMAX Group, an operator of institutional exchanges for currency and cryptocurrency trading, posted record performance in its 2021 fiscal year ended December 31, 2021.
The company said gross profit hit $106 million last year, up 78% from 2020.
Statutory EBITDA was $62 million, up 103% over the previous year. In addition, the EBITDA margin increased by 58% over the last year.
The Group’s transaction volumes increased by 20% year-on-year to $5.4 trillion.
Additionally, LMAX reported that its gross revenue also jumped 80% year-on-year.
The group explained that it saw growth in “institutional market share in traditional FX and cryptocurrency markets, despite volatility and downward pressure on volumes.”
In 2021, LMAX Digital volumes reached more than $500 billion, according to the Group.
David Mercer, CEO of LMAX Group, commented:
We continued to grow our share of the institutional FX and crypto market and saw a significant increase in institutional adoption of crypto assets, with over 600 active trades on LMAX Digital.
Meanwhile, LMAX Group is partnering with SIX Swiss Exchange to launch cash-settled, centrally cleared crypto-asset futures.