LMAX Global, the cross-asset marketplace for FX and digital assets, reported record first-half 2026 results on 18 September, driven by heightened market activity in the opening quarter and sustained institutional demand. The London-based firm posted adjusted gross profit of $75 million, up 51 percent year-over-year, while adjusted EBITDA surged 162 percent to $33 million. Group trading volumes reached $5.3 trillion, representing 36 percent growth compared to the same period last year.
- H1 2026 Adjusted Gross Profit: $75m (+51% YoY)
- Adjusted EBITDA: $33m (+162% YoY)
- Group Trading Volumes: $5.3trn (+36% YoY)
- FX Volumes Growth: +37% YoY
- Record Daily Volumes: $74.2bn on 3 March 2026
- Record Half-Year ADV: $41bn
The half-year performance marked a significant milestone, with volumes reaching $5.3 trillion—a 23 percent increase from the previous record of $4.3 trillion in the second half of 2025. Peak daily volumes hit $74.2 billion on 3 March 2026, surpassing the previous record by 24 percent. Average daily volumes for the period climbed to $41 billion, up 26 percent from H2 2025.
David Mercer, chief executive of LMAX Group, attributed the results to institutional demand for integrated cross-asset trading. He noted that market volatility in the first quarter lifted performance, with activity normalizing as expected in the second quarter. The company has emphasized its diversified revenue model across FX and digital assets as a source of resilience during market cycles.
As markets evolve towards 24/7 trading, we are focused on leading this shift by combining the technology, liquidity and distribution institutions need to trade and move capital seamlessly across asset classes, around the clock.
The results underscore expanding institutional distribution and growth across LMAX’s product suite. The firm has positioned itself as a provider of comprehensive cross-asset capabilities, capitalizing on structural shifts toward continuous trading and institutional demand for multi-asset liquidity solutions.
David Mercer, Chief Executive of LMAX Group. Source: LinkedIn
