LMAX Group Seeks Up to $5 Billion Valuation with Potential Sale or Listing

Institutional crypto trading platform LMAX Group is reportedly exploring strategic options that could include a sale, merger, or public listing in the United States or Europe. The company has tapped Morgan Stanley and KBW to evaluate these opportunities, which may value LMAX at up to $5 billion.

This figure would represent a significant increase from 2021, when J.C. Flowers acquired a 30% stake for $300 million, valuing LMAX at approximately $1 billion.

LMAX operates institutional trading venues for foreign exchange and digital assets, providing execution, liquidity, and market infrastructure to banks, brokers, hedge funds, and asset managers.

The company has expanded its digital asset operations over the past year, including a 24-hour multi-asset exchange launched in February, which supports foreign exchange, digital assets, commodities, and tokenized securities.