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.
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.
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.
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.
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 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.
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 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.
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.
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.
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.
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.
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.
Liquidnet, the global institutional trading network, today announced the launch of “Liquidnet Labs,” a virtual hub that will showcase the company’s latest technology developments. Available exclusively to the 800+ leading institutional investors around the world that comprise the Liquidnet equity Membership1 , Labs provides a sneak peek into Liquidnet’s innovations and product pipeline. It also serves as a centralized location for piloting, feedback, and testing of new features.
Adam Sussman, Liquidnet's Head of Market Structure and Liquidity Partnerships, talks about what we can learn from FINRA's recent release of limited data on Over-the-Counter (OTC) trading venues. Read his full take here.
Liquidnet, the global institutional trading network, today announced a record in the third quarter in Asia Pacific as buy-side Members increased trading activity amid a spike in market-moving events. Volumes rose 27% on the previous quarter with US$8.99 billion principal traded in APAC for the quarter. This included records in Japan, Taiwan, Korea, and Indonesia.
A new study by global trading network Liquidnet has found significant differences in the volatility of block trades in the Australian market minutes before execution, depending on where trades are executed. Higher volatility implies information leakage, which may cause a significant impact on performance for institutional investors.
Since FINRA began publishing ATS volume, brokers and other analysts have used the data in various ways to rate or rank the various trading venues. However, we believe that none of the analysis presents this data in a way that is relevant to asset managers. To help fill this void, Liquidnet has developed the Dark Pool Value Index that ranks each ATS based on the factors that are most meaningful to an institutional investor (market share, market share symbol rank, and trade size by symbol).
Before his panel at TabbFORUM's 2016 Equities conference: "Delivering Liquidity in Scale," Liquidnet's Brennan Warble, Co-Head of Americas and Head of Americas Sales, sat down with Rich Daniels of the TABB group to talk about finding hidden liquidity through Liquidnet's latest innovation: Targeted Invitations.
Liquidnet, the global institutional trading network, announced today the successful global rollout1 of Targeted Invitations, the latest advancement in Liquidnet’s mission to help the buy side source deeply hidden institutional liquidity. Initially launched in Europe late last year, Targeted Invitations is now also available in the U.S. and Asia-Pacific, and has already exceeded $1 billion traded2.
Liquidnet, the global institutional trading network, today announced record global performance in its EMEA, APAC and Canada regions, while also posting strong results in the US.
Liquidnet, the global institutional trading network, today announced record performance figures in Europe for 2015, despite disappointing returns in many of the region's equity markets.
A recent study concluded that where you execute large trades can have a significant impact on performance. Volatility was shown to be, on average, 250% higher for other brokers relative to Liquidnet in the one minute prior to a block execution. Significantly increased volatility prior to a block execution is an indicator of information leakage, which can have an adverse effect on execution quality. Read the summary paper here.
The Trade reports on the launch of our Execution and Quantitative Services group headed by Rob Laible.
View the full article here.