LMAX Exchange, the provider of an exchange-based currency trading platform, has been named number one as Britain’s fastest-growing private technology company by Fast Track, after its annual sales rose 307.8 per cent over the past three years to £18.37m last year.
The firm ranked 15th last year when Fast Track’s list of the 100 fastest-growing companies was published in The Sunday Times, but its trading volume of over $1 trillion last year has propelled it to the top of the rankings.
Chief executive David Mercer described the ranking as “unbiased confirmation of the outstanding progress LMAX Exchange has made over the past year in delivering a world class FX exchange.”
According to the official website, the Sunday Times Hiscox Tech Track 100 league table ranks Britain’s 100 private tech (TMT) companies with the fastest-growing sales over the latest three years. To view the table, click here.
Tech Track 100 is compiled by Fast Track and published in The Sunday Times each September, with an awards event in November and regional dinners throughout the year. Click here to view The Sunday Times profile of LMAX.
A typical Tech Track 100 company:
– is generally owned and run by entrepreneurs
– has between 20 and 200 staff
– has average 3 year sales growth typically ranging from 40% pa to 300% pa
– has sales ranging from £5m – £50m
– Around 40% of the companies have venture capital backing
Congratulations to LMAX for vaulting to the very top of the Tech Track 100 tables! A win for the foreign exchange industry indeed…