Structured comparison · last re-checked 2026-09
LMAX Exchange
LMAX LimitedLondon, GB · Evidence score not yet ratedlast re-checked 2026-09
not yet ratedEvidence score/100
not examinedVenues
see recorded fieldsConnectivity
see recorded fieldsAsset classes
01
Licence, read on the register
Tier classification follows the same scale as the retail register: tier-2 means real supervision and client-money segregation, without an investor compensation scheme — never misread it as tier-1 protection.
| Regulator | Licence number | Jurisdiction | Tier | Source |
|---|---|---|---|---|
| Financial Conduct Authority (UK) | 509778 · authorised · checked 2026-09 | GB | tier-1 | https://register.fca.org.uk/s/firm?id=001b000000NMSxwAAH |
Source: www.lmax.com · open source ↗
02
The comparison ledger
Where the model wins, where it merely competes, and which claims a counterparty can actually test.
A
Wins where
B
Merely competes where
C
Testable claims
D
Claims we cannot verify from outside
03
Perimeter and coverage
| Asset classes | Venues | Connectivity | Clients accepted | Explicitly refused |
|---|---|---|---|---|
| FX: yes, Metals: yes, Indices: yes | not examined | FIX API: yes, itch_market_data: yes, equinix_cross_connect_ld4_ny4_ty3_sg1: yes, drop_copy: yes, bank_algo_aggregators: yes | fund, bank, prop_trading_house, institutional_broker, asset_manager | not examined |