[After Receiving $150 Million Investment from Ripple, LMAX Explores Sale, SPAC Merger, or IPO] Odaily Planet Daily reports that institutional trading platform LMAX is working with advisors Morgan Stanley and KBW, the investment banking arm of Stifel, to evaluate strategic alternatives. According to sources, the options under consideration include a potential sale, SPAC merger, or IPO. London-based LMAX recently launched a 24/7 multi-asset exchange and secured a $150 million strategic investment from Ripple, which is tied to the adoption of institutional stablecoins.