The following transcript is taken from The Scoop, The Block's new podcast. Listen below and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher, or wherever you listen to podcasts. Email feedback to [email protected] This transcript has been edited for clarity and length.
David Mercer has been building out LMAX Exchange Group, a UK-based institutional exchange venue, which recently clocked in $1 billion in volumes in one trading day. The firm counts dozens of banks and trading firms as its clients. Mercer joins The Scoop with Frank Chaparro and Ryan Todd at the Crypto Evolved event in New York City to talk about LMAX's growth, the 3 things keeping institutions from diving into the nascent market, and what it is like playing Rugby on the North Pole. Show transcript and notes available on The Block.