VENUE FILE · filed not recorded · last re-checked 2026-09
LMAX Exchange — the liquidity layer, one venue at a time
LMAX Limited · London, GB · evidence score not yet rated
Licence, read on the register
| Regulator | Licence number | Jurisdiction | Tier | Source |
|---|---|---|---|---|
| Financial Conduct Authority (UK) | 509778 · authorised · checked 2026-09 | GB | tier-1 | open source ↗ |
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.
The claims ledger
Claims specific enough to be falsified — and the ones that remain the venue's own measurement.
- 0testable claims
- 0venue-measured claims
- not examinednamed data centres
Claims we cannot verify from outside
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 |
A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to assess than one that doesn't. The refusal list is treated here as disclosure, not as a defect.
What the desk watches next
The follow-up plan attached to this file — each item re-checked on a future pass, dated and kept falsifiable.