News & Views

Liquidnet Ranked a Top 50 Employer in “Best Places to Work in NYC”

Liquidnet has been named one of the Best Places to Work in New York City by Crain’s New York Business and the Best Companies Group. The annual ranking recognizes New York City’s best employers through its survey and recognition program. Liquidnet was ranked number 48 out of the 100 organizations to make the list.

Liquidnet Study Finds Dark Trading Adjusting Ahead of MiFID II

Liquidnet, the global institutional trading network, today published Shape Shifting: Accessing the Dark Post MiFID II research on how buy-side traders plan to trade in the dark once broker dark pools are no longer admissible. Today, 65% of respondents see buy-side crossing networks as their most effective venue for accessing the dark versus 20% who still prefer broker dark pools.

Liquidnet innovation enables Canadian traders to tap into hidden institutional global block liquidity

Liquidnet announced the launch of Targeted Invitations as part of its introduction of Liquidnet Virtual High Touch® (VHT) to Canada. VHT is a new category of buy-side technology that brings together advanced data analysis, adaptive learning algorithms, unique liquidity search tools, and real-time analytics into a new trading experience.

The October Club raises £500,000 to help transform care for people with advanced Multiple Sclerosis

The October Club announced that more than £500,000 was raised last night at the organization’s 30th anniversary dinner. Held at the iconic Savoy Hotel, The October Club’s annual fundraising dinner drew more than 400 guests. Their charity partner for this very special year was The Multiple Sclerosis Trust and the Club, with monies raised to fund urgently needed care and support to people living with the effects of advanced MS.

Liquidnet’s Dark Pool Value Index (DPVI): Character vs Consistency

In this edition of Liquidnet's Dark Pool Value Index (DPVI), Adam Sussman—Head of Market Structure and Liquidity Partnerships at Liquidnet—talks about he believes that value is best demonstrated through outperformance in a particular category when assess a dark pool. Consistency is also a desirable trait but should be treated with caution.

Adam has also highlighted the seven top block pools according our most recent release of FINRA ATS Block data. These ATSs comprised more than 70% of the Block ATS market share from May through July. The comparison between the two different data sets help illuminate the different characteristics.

Survey of asset managers finds only 6% ready for MiFID II best execution standards

Liquidnet, the global institutional trading network, published the high level findings of a recent survey of asset management firms that probed their views of best execution requirements under MiFID II. The study, entitled “Re-Engineering Best Execution,” found that just 6% of those surveyed believed they are currently ready to meet best execution requirements.  61% of respondents recognized their need to provide more granular detail to their policies, with a third planning to make changes to trading workflow, and over a quarter are specifically investing in technology to ensure a more systematic approach to best execution.

Liquidnet Announces Strategic Tech Hire to Support Growth of Virtual High Touch™ MiFID II Solutions

Liquidnet announced the appointment of Patrick Strobel as Head of Technology for EMEA. In this newly formed role, Patrick will be responsible for building out Liquidnet’s strategic IT architecture in EMEA with an emphasis on the region’s Virtual High Touch MiFID II solutions. He brings over sixteen years’ experience delivering IT solutions for investment banks such as Deutsche Bank and JP Morgan.

Liquidnet Launches Algo Ranking Model in Europe as Part of its Virtual High Touch™ MiFID II Solutions

Liquidnet, the global institutional trading network, announced that its Algo Ranking Model technology is available in Europe, building on a successful launch in the US. Using innovative technology and a multi-factor model, the Algo Ranking Model holistically profiles every order to rank execution strategies in real-time according to order characteristics, trading objectives, market conditions, and performance targets.

VIDEO: Empowering the Buy Side Through AI, Analytics and Automation (TABB)

Natasha Shamis, Liquidnet's Global Head of Product, sat down with Terry Roche at TABB's annual equities conference, "Equities 2017: Forward or Backward – Where Are We Headed." Natasha discusses how Liquidnet's Virtual High Touch™—a new category of buy-side technology that brings together advanced data analysis, adaptive learning algorithms, unique liquidity search tools, and real-time analytics into a new trading experience—helps buy side in an increasingly data-driven market.

Watch the full video.

Liquidnet’s Dark Pool Value Index (DPVI): Week of 4/24/2017

Liquidnet's Adam Sussman addresses the two week lag between FINRA’s release of the Tier 1 and Tier 2 ATS Transparency Data in his latest Dark Pool Value Index (DPVI).

Year to date, Tier 2 equities have accounted for roughly 38% of the total ATS volume, a sizable portion. Unfortunately, the Tier 2 data is released an additional two weeks after the Tier 1 data (four weeks from the original trading week). By the time the market receives the Tier 2 data, it is considerably stale. While we see no compelling reason for the additional delay, how much of a difference is there between the two data sets?

IDG’s Computerworld Ranks Liquidnet in Top Twenty Best Places To Work

Liquidnet announced that it has been ranked in IDG’s Computerworld 2017 Best Places to Work in IT list for the fourth consecutive year. Liquidnet ranked in the top twenty companies among small organizations on the Best Places to Work in IT list, an annual ranking of the top 100 work environments for technology professionals.

Latest Liquidnet Virtual High Touch™ Solution “Super Sizes” Block Trades Immediately After Execution

Liquidnet announced the launch of the latest product in its Virtual High Touch suite: Surge Capture. Built to take advantage of the increased volume and volatility that occurs in the market immediately following a block trade, Surge Capture soaks up additional liquidity by seamlessly placing a specially designed order in the market for any unfilled shares immediately after their initial block executes.

Liquidnet Bolsters Algorithmic Expertise in Europe

Liquidnet announced the appointment of Takis Christias as Head of Trading Strategies EMEA. Takis brings more than twenty years of experience in quantitative analysis and trading strategies and will be responsible for the continued build out of the electronic execution offering across the Liquidnet platform.

VIDEO: Seth Merrin on Liquidnet Labs (TRADE)



Liquidnet and The TRADE hosted an event in London titled ‘FinTech Innovation for Today’s Buy-Side Trader’. Seth Merrin, Liquidnet's founder and CEO, caught up with The TRADE at the event to discuss the future of FinTech for the buy side.

Watch the clip here.

Liquidnet Further Enhances Trading Platform with Acquisition of OTAS Technologies

Liquidnet, the global institutional trading network, today announced its acquisition of OTAS Technologies–a market-leading analytics platform that delivers actionable market intelligence and context directly to institutional traders and portfolio managers. OTAS’s industry-leading analytics and market insight, combined with Liquidnet’s Virtual High Touch decision-support trading platform, will help enhance the buy-side trader’s decision making process and give the trader more control over achieving best execution.

Making MiFID II Work: When is an SI not an SI?

Rebecca Healey, Liquidnet's Head of EMEA Market Structure and Strategy, dives into understanding how Systematic Internalisers (SIs) will work in practice. The European Securities and Markets Authority (ESMA) Q&A provides some clarification on what SIs are and aren’t, and what characterises SI activity.

Making MiFID II Work: Unbundling

The topic of unbundling has been one of MiFID II’s most controversial areas, generating both heated debate and high levels of anxiety. Why? Because it aims to shake apart one of the foundations of modern investment banking: trading with a broker will pay for a broker’s research. As we’ve covered in previous editions of Making MiFID II Work, some of the key aims for the new rules are to bring transparency back to the market, remove conflicts of interest, and eliminate inducements—all with the singular purpose of benefiting the end investor. To achieve this under MiFID II, execution and research will have to be paid for separately, payments will not be tied to the volume and/or value of transactions, and research services will need a pre-agreed budget. Complicating the issue even further is the fact that many firms operate in multiple global regions and cannot simply look to unbundle in Europe alone.

Liquidnet’s Dark Pool Value Index (DPVI): Week of 2/24/2017

Adam Sussman, Liquidnet's Head of Market Structure and Liquidity Partnerships, used FINRA ATS Data for a 12 week period ending 2/24/2017 to create the ranking for this Dark Pool Value Index. A higher standard deviation means the ATS shows greater change within that category. This gives us a quick way to assess the long-term strength and stability of how an ATS differentiates itself from its peers.

Liquidnet and ONEaccess Deliver Integrated Research Management Solutions for Mifid II Compliance

Liquidnet, the global institutional trading network, and ONEaccess, a Visible Alpha company and leading corporate access and research valuation platform, today announced a partnership to provide institutional investors with solutions to seamlessly manage, track, and pay for eligible research under MiFID II. This partnership between Liquidnet and ONEaccess offers clients of both companies a more efficient technology solution for managing their interactions with research content.

Making MiFID II Work: Best ex reporting

30 April 2018 is the date the buy side will need to begin producing the first detailed best execution reports—an integral part of the new world of best ex, post-MiFID II. Even though April 2018 is still some time away, firms need to start collecting the data necessary for these reports now as the first one has to cover all orders executed during 2017. Understandably, the level of detail and data required for the new best ex reporting rules are certainly causing headaches in the industry—and for good reason. Like it or loathe it, big data is coming to the buy side.

Liquidnet Broadens International Access to Canadian Equities with Expansion of Next Gen Algo Suite

Liquidnet, the global institutional trading network, today announced the full rollout of its Next Gen algo suite in Canada further enhancing access to block liquidity in the region.

The Next Gen algorithmic suite includes Liquidnet’s flagship liquidity-seeking algo, Liquidnet Dark, which looks for liquidity in Liquidnet and other dark venues. New additions for Canada include Liquidnet Barracuda, designed to simultaneously seek a large block in Liquidnet while opportunistically searching for available liquidity across external venues, and Liquidnet Sweep-Then-Post, designed to quickly and aggressively take available liquidity in order to strike tactically at attractive price levels or get small orders done.

VIDEO: Head of Liquidnet Fixed Income on Corporate Bond Liquidity (TABB)

After his panel at TabbFORUM’s 2017 Fixed Income conference: “Charting a New Course,” Constantinos Antoniades, Liquidnet’s Head of Fixed Income, sat down with the TABB Group’s Terry Roche to talk about the opportunities Liquidnet’s fixed income liquidity pool created: a centralized pool of liquidity, connectivity with OMS systems, and established protocols to get natural liquidity.

Making MiFID II Work: Taking control of best ex

Greater transparency has been at the top of nearly every regulator’s wish list for a long time. And the great hope with MiFID II is that it will be the industry’s next major leap forward in achieving best execution both more transparently and more consistently. With even greater ownership of best execution post MiFID II, the buy side will need to understand all aspects of their order flow to demonstrate that they are making the most appropriate trading decisions given the liquidity that’s available. Under MiFID II, best execution won’t be just about price; it will be the policy and process that is most important. This will require firms to collect and assess more data to evaluate performance, create new systems and controls to monitor processes, as well as publish a clear and detailed Best Execution Policy.

Liquidnet CEO Seth Merrin Releases The Power of Positive Destruction

Everyone has to start somewhere. Seth Merrin started as an intern on Wall Street who had the painstakingly manual task of writing paper tickets for each trade executed. How did this intern later become Liquidnet's CEO and founder? First, he tore apart Wall Street. Then, he reconstructed it from the inside out. Learn more about Seth's journey as he created his masterpiece business in his first-person narrative The Power of Positive Destruction: How to Turn a Business Idea Into a Revolution.

Learn more about how to start your own industry revolution at positivedestructionbook.com/.

Liquidnet Increases Focus on Hedge Funds with New Hire

Liquidnet, the global institutional trading network, today announces the appointment of Dan Squires as a Sales Director focusing on European hedge funds. Dan brings over twenty years of industry experience to this role and will be responsible for expanding Liquidnet’s membership within the hedge fund community.

Liquidnet’s Dark Pool Value Index: Week of 12/05/2016

Adam Sussman, Liquidnet's Head of Market Structure and Liquidity Partnerships, talks about how the Dark Pool Value Index (DPVI) does not take into account the magnitude of difference among the dark pools. In a brute ranking system, the end results dominate the story and the difference between 1st place and 2nd place becomes easy to overlook. This can mask the fact that there are some dark pools that have meaningful differentiation – and that many are very similar.