David Mercer, CEO, LMAX Group
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CEO of LMAX Group David Mercer said the firm has become the primary price discovery venue, having grown to command a sizable portion of the spot cryptocurrency market. LMAX Digital has seen 41.9% growth from Q4’19 to Q1’20. Its volume in Q4’19 was $14.0 billion while in Q1'20, it reached $19.8 billion.
Mercer discussed the firm's recent growth and what it's been like to operate a digital asset exchange in the midst of the ongoing financial and health crisis. The Block's Frank Chaparro and Mercer also explore:
- How the firm coped with rising volatility and maintained liquidity on its venue in the midst of whipsawing crypto markets
- The differences between how traditional markets have held up during the COVID-19 crisis relative to crypto
- Why LMAX needs more asset managers, fund managers to get involved in crypto for it to go head to head with retail exchanges
- What traditional markets can learn from crypto
- Why banks may not care about crypto yet, but their customers are asking questions