LMAX Exchange has hailed 2014 as a milestone year after it made a profit for the first time, but the London-based foreign exchange trading platform warned it was not immune to swings in the Swiss franc in January as it predicted this year will be "challenging".

The fledgling multilateral trading facility, which offers trading in spot FX, precious metals, commodities and equities indices, reported annual profits of £496,000 in 2014 as it swung into the black from a loss of £3.9 million the previous year.