Why Is LMAX Only Worth £3.6 Million?

Dec. 18, 2012 12:38 PM ETAMP, AMTD-OLD, BAC, BBD, BBVA, BCS, BGCP, BK, BMO, BNS, BTFRF, C, CM, CME, CS, DB, DJ, ETFC, META, FTGI, GLBR, GCAP, GS, HSBC, IAPLF, IAPLY, IBKR, IGGRY, LUK-OLD, JPM

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Contributor Since 2011

Gerald Segal is a Managing Director at LeapRate, which provides analysis of the Online Forex Trading world. Gerald's reports are a leading source of information on the size, growth and regulation of the Online Forex industry. Prior to founding LeapRate Gerald was an investment banker for 18 years with firms such as Robertson Stephens, Bear Stearns and Merrill Lynch.

LMAX lost another £4.5 million in the first six months of fiscal '13.

After pouring several tens of millions of pounds into its online FX subsidiary LMAX over the past few years, Betfair has decided to sell a 67% stake in LMAX to management, in an MBO which values LMAX at just £3.6 million.

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

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.