LMAX Group has launched Omnia Exchange, a new infrastructure layer designed to enable institutions to exchange any asset against any other in real time through a single API, unifying FX, crypto, stablecoins and other digital assets within a single execution environment. Built on LMAX Group’s existing exchange technology and liquidity infrastructure, the platform combines blockchain-based order entry with centralised exchange execution, enabling 24/7 trading and flexible settlement across both traditional rails and blockchain networks.
LMAX presents Omnia as an infrastructure layer that abstracts the complexity of accessing fragmented cross-asset liquidity, positioning it upstream of traditional execution venues.
“Omnia is best understood as an infrastructure and liquidity layer rather than simply an execution venue,” Oscar Vickerman, Head of Strategic Distribution at LMAX Group, tells TradingTech Insight. “While execution is a core component, its primary role is to provide institutional and enterprise platforms with seamless access to deep, regulated liquidity across FX and digital asset markets through a single integration.”
He continues: “What makes Omnia different is that it sits upstream of traditional trading venues, acting as the connective layer between liquidity and the businesses that need to access it. That includes fintechs, brokers, payment providers, and other platforms that increasingly need to move between fiat and digital assets as part of their core workflows. Instead of requiring these firms to connect to multiple venues, manage liquidity relationships, and build their own execution infrastructure, Omnia provides a unified access point, allowing institutions to unlock a more efficient form of capital.”
Liquidity orchestration rather than a single order book
Omnia centres on an execution layer built to navigate fragmented liquidity across asset classes, coordinating access across multiple venues rather than concentrating activity into a single marketplace. The platform coordinates access to multiple liquidity pools and determines how best to complete each transaction across them.
“Omnia operates as a liquidity orchestration and routing layer, rather than maintaining a single consolidated order book,” explains Vickerman. “It connects liquidity available across LMAX Group venues and other integrated liquidity sources, and uses intelligent routing to execute against the best available price at the time of the transaction. This approach reflects the reality that liquidity across asset classes, particularly between FX and digital assets, is naturally fragmented. Rather than clients connecting to and managing multiple venues themselves, Omnia abstracts that complexity. Its routing logic can automatically determine the most efficient execution path, including executing multiple legs where necessary to complete a transaction across asset classes.”
For institutions, the practical significance will depend on how effectively fragmentation is managed behind the scenes, beyond the headline claim of enabling “any asset against any other.”
Embedded liquidity and settlement flexibility
In addition to traditional buy- and sell-side participants, Omnia is aimed at payment providers, retail finance platforms, wealth managers, wallets and custodians seeking direct access to institutional liquidity.
The model supports settlement either via conventional financial market infrastructure or directly on blockchain rails, while maintaining continuous 24/7 trading. That dual-settlement design reflects the operational realities of digital asset markets while remaining aligned with regulated institutional frameworks.
Says Vickerman: “Omnia is built on top of LMAX Group’s existing regulated market infrastructure and operates within that framework with full client KYC verification and comprehensive screening of all funds to maintain compliant and secure transaction flows. Execution and client onboarding take place through regulated LMAX Group entities, including LMAX Digital and LMAX Global, depending on the asset class and client jurisdiction.”
LMAX Group operates regulated venues across key jurisdictions, with matching engines in London, New York, Tokyo and Singapore. In that context, Omnia represents an extension of its existing infrastructure into a unified cross-asset access layer rather than the creation of a standalone digital venue.
Positioning in an evolving market structure
The launch comes as exchanges and infrastructure providers explore hybrid models bridging traditional and digital market structure, particularly around tokenisation and stablecoin-based settlement.
“What differentiates Omnia is that it was built as infrastructure first,” notes Vickerman. “Its purpose is to provide a unified access layer to institutional liquidity across FX and digital assets, allowing clients to integrate liquidity directly into their platforms through a single connection. Technically, Omnia removes the need for clients to manage multiple venue integrations or fragmented liquidity pools. It handles routing, execution, and settlement coordination in the background, delivering institutional execution quality while simplifying operational complexity. Commercially, this improves capital efficiency and reduces infrastructure overhead. Omnia provides direct, seamless access to the same products and liquidity trusted by the world’s top 40 banks.”
The key question will be whether liquidity orchestration at this layer delivers measurable improvements in integration overhead, execution quality and capital efficiency compared to existing multi-venue connectivity models. Omnia’s impact will ultimately depend on the depth of liquidity accessible through the platform and the robustness of its routing and regulatory architecture across asset classes.
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