LMAX also reports healthy growth in FX volumes.
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.