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Goldman Sachs Dumps 12.5% Stake In LMAX

|Includes:BGCP, BTFRF, FX, FXCM, GCAP, Goldman Sachs Group Inc. (GS), IGGRY, KCG, STT

LMAX also reports healthy growth in FX volumes.

LMAX logo

Nearly 18 months after launch, U.S. investment bank Goldman Sachs has sold its 12.5% stake in LMAX back to majority-owner Betfair for a reported £10 million ($15.7 million). Goldman's rep to the LMAX board, Phil Hylander, has stepped down. Betfair now owns nearly 90% of LMAX, with the remainder owned mainly by management.

UK-based LMAX, a spinoff of peer-to-peer gambling giant Betfair, is finally beginning to see some growth in FX volumes, after launching nearly 18 months ago to high expectations.

For more details see LeapRate's Forex Industry News at leaprate.com.

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