Liquidnet received approval from the Australian Securities Exchange (ASX) to become a full market participant on 19 December 2017. Liquidnet is now officially recognised as a securities broker in the Australian market, giving institutional traders faster access to execution reports, while providing the benefits from the minimum volatility and the anonymous trading ecosystem Liquidnet provides.
Liquidnet’s Head of Market Structure & Strategy in EMEA, Rebecca Healey, investigates how the introduction of new European regulations will impact trading in corporate bond markets in the inaugural post of a 5-part research paper.
Liquidnet announced the launch of Virtual High Touch (VHT) for Fixed Income. VHT is an intelligent execution workflow designed to augment the corporate bond trader’s decision making process. It evaluates order characteristics, market data, liquidity conditions, and user preferences to suggest an optimal execution strategy for different groups of orders.
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, 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 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.
As part of the Tabb Group's 'Speaker Series' Liquidnet CEO and Founder Seth Merrin spoke with Terry Roche about the rise of FinTech, MiFID II implications, and more.
Roland de Marsangy, Liquidnet’s Head of Market Structure for Asia-Pacific, gives his perspective on what MiFID II will mean for Asia-Pacific.
Liquidnet CEO Seth Merrin joined CNBC in London to discuss the implementation of MiFID II. Watch the full interview here.
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 Head of Market Structure & Strategy in EMEA, Rebecca Healey, shares her three key takeaways from conversations at the recent International Trader Forum in Barcelona, Sep 6 – 8, 2017.
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.
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.
Tony Cheung, Liquidnet APAC’s Head of Quantitative Analytics, takes a look at why the percentage of Average Daily Volume (ADV) can be a misleading indicator of trade difficulty in APAC.
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's Head of Market Structure and Liquidity Partnerships Adam Sussman comments on fragmentation in child orders in the latest edition of Liquidnet's Block Dark Pool Value Index Liquidnet's Head of Market Structure and Liquidity Partnerships
Liquidnet, the global institutional trading network, announced the latest innovation within the Liquidnet Virtual High Touch™ offering: the launch of Targeted Invitations for Algos in Europe.
Following recent trips to Hong Kong, Singapore, and the US, Rebecca Healey, Liquidnet’s Head of Market Structure & Strategy in EMEA, shares her insight about what she heard from asset managers across the globe and how MiFiD II impacts them.
After recent trips to Hong Kong, Singapore and the US, Rebecca Healey, Liquidnet's Head of Market Structure & Strategy in EMEA, comments on what she heard from asset managers across the globe and how MiFiD II impacts them.
Institutional Investor ranked Liquidnet CEO Seth Merrin number 25 in the 2017 Tech 40, an annual ranking of the top 40 financial technologists on their innovations that are changing the industry.
Following recent trips to Hong Kong and Singapore, and the east and west coasts of the US, Liquidnet’s Head of Market Structure & Strategy in EMEA, Rebecca Healey, shares her insight about what she heard from asset managers across the globe and how MiFiD II impacts them.
Liquidnet, the global institutional trading network, announced the launch of trading of Pakistani equities, amid growing demand from buy-side Members and the recent upgrade of Pakistan by the MSCI Index from a Frontier to an Emerging Market.
Liquidnet, the global institutional trading network, published the results of its Fixed Income Institutional Voice Survey, with US and European institutional traders revealing that “sourcing liquidity” is the most important factor when selecting a trading venue.
Mark Pumfrey, Liquidnet’s Head of EMEA, wrote an op-ed for Investment Europe on best execution and bringing efficiency to the buy side.
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.
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 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?
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.
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 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.
In an op-ed for TabbFORUM, Rebecca Healey, Liquidnet's Head of EMEA Market Structure and Strategy, offers guidance on the latest paper from ESMA on rules around trading on a trading venue (TOTV).
Liquidnet announced the appointment of Stephen Grady as Non-Executive Director of Liquidnet Europe. Stephen will bring more than twenty years of experience in managing trading functions.
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, 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.
In an op-ed for TabbFORUM, Rob Laible, Liquidnet's Global Head of Equity Strategy, analyzes how technology can positively impact the buy-side trader.
Liquidnet, the global institutional trading network, today announced a record quarter driven by a growing Membership and the success of recent innovations designed to help corporate bond traders uncover additional liquidity.
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.
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, the global institutional trading network, today announced the appointment of Simon Gilbert as Sales Director, based in the firm’s London office. Simon brings more than 10 years of experience in US equity sales for Europe and will be responsible for helping Liquidnet’s European Members source institutional liquidity in US equities.
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.
Fintech sounds like it’s about the future. Fintech sounds like that young, brash upstart that overthrows the status quo and changes the way we interact with some outdated service. Liquidnet's Adam Sussman writes about how he find that’s rarely the case, particularly when it comes to capital markets.
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.
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, the global institutional trading network, announced that it has once again been named the #1 Global Broker for Equities Operational Performance as part of the 2016 McLagan [Z/YEN] Survey of Operational Performance of Brokers.
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.
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.
As of October 2016, FINRA has published a monthly summary of block executions by ATS. Similar to our previous Dark Pool Value Indices, we have applied three factors to remove the noise from the data and rank the top block trading venues.
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.
Forbes contributor Tom Groenfeldt reviews Liquidnet CEO Seth Merrin's "amazing book": The Power of Positive Destruction.
Read more about 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, 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.
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.
Financial News reported on Liquidnet's survey The New Dark Age by Rebecca Healey, Liquidnet's Head of Market Structure & Strategy in Europe. Rebecca surveyed buyside traders responsible for $13.5 trillion and found worries over implementation of Europe's new trading rulebook next year