London-based fintech firm LMAX Group has entered the leveraged crypto derivatives market, unveiling perpetual futures contracts tied to Bitcoin and Ether geared toward institutional shoppers.
The trade, which averages over $40 billion in every day spot quantity throughout FX and digital belongings, stated the transfer was pushed by consumer demand for high-leverage entry to crypto markets, in accordance to a Wednesday report by Bloomberg.
“Perpetual futures have dominated the crypto marketplace for the final three or 4 years,” LMAX CEO David Mercer stated. “Our institutional shoppers, together with prime proprietary buying and selling corporations and brokers, are searching for that form of publicity,” Mercer added.
Perpetuals are a kind of economic spinoff that features like a standard futures contract however with out an expiration date. LMAX’s providing will permit as a lot as 100x leverage. LMAX operates foreign exchange brokers within the UK, Europe, New Zealand and Mauritius, per its web site.
Cointelegraph reached out to LMAX Group for remark, however had not acquired a response by publication.
Associated: Excessive threat, excessive reward: Crypto perpetual futures acquire momentum in US
Perps dominate crypto buying and selling quantity
Perpetual futures dominate crypto buying and selling exercise, accounting for 68% of all Bitcoin (BTC) quantity up to now in 2025, up from 66% final 12 months, in accordance to Kaiko.
Main exchanges like Binance, Bybit and OKX maintain practically 70% of open curiosity in these merchandise, with every day perp volumes ranging between $10 billion and $30 billion, and peak days reaching as excessive as $80 billion on Binance alone, per Kaiko.
In keeping with CoinMarketCap information, perpetuals have dominated crypto derivatives buying and selling up to now 24 hours with $1.39 trillion in quantity, far surpassing conventional futures contracts, which noticed simply $670.61 million.
In the meantime, per information from DefiLlama, decentralized perpetual platforms collectively processed $20.5 billion in 24-hour quantity, with a 30-day whole topping $683.5 billion, reflecting a 16.84% weekly surge. Hyperliquid alone contributed over $65 billion in seven-day quantity.
Associated: Crypto perp futures coming ‘very quickly,’ says CFTC’s Mersinger
Perps arrive within the US
LMAX Group’s push into the crypto derivatives market comes as main US venues transfer to supply retail entry to perpetual futures. Coinbase started providing perps to US clients in July, and the CBOE plans to launch its model in November.
In April, Europe’s One Buying and selling launched MiFID II-compliant perpetuals, although the providing is proscribed to institutional shoppers. The platform plans to develop the product to eligible retail shoppers.
Journal: Can Robinhood or Kraken’s tokenized shares ever be really decentralized?
