Liquidnet, the premier institutional investment community, announced that from today its Members will be able to trade equities in Estonia and Lithuania using its platform.
With this addition, Liquidnet now trades in 34 equity markets across five continents, plus London- and Luxembourg-listed GDRs.
John Barker, Head of International for Liquidnet, said "The addition of Estonia and Lithuania to our platform marks Liquidnet's further expansion into Central and Eastern Europe, with Members gaining access to Polish equities earlier this year."
"Our Members across Asia Pacific, Europe and America can now trade equities in Lithuania and Estonia, which are showing signs of recovery after a difficult 2009. Of particular interest to our Members is Estonia, which could soon become the seventeenth EU member state to adopt the euro as its currency," Barker added.
The EU Spring 2010 Economic Forecast European Economic Forecast 2010, European Commission, published 5 May 2010 predicted that the Baltic states will return to growth by 2011, with Lithuania at Real GDP growth of 3.2% in 2011 following stabilisation this year, and Estonia reaching a positive growth rate of 0.9% in 2010 and 3.8% in 2011. On 12 May, the European Commission and the European Central Bank are due to report on Estonia's suitability for entering the Euro. If successful, the country will adopt the currency in 2011.
Commenting on Liquidnet's continued global expansion, John Barker said, "We endeavour to bring the buy-side unrivalled access to markets across the globe, whilst providing a secure and efficient environment in which to trade. Liquidnet now offers trading in 34 markets worldwide, including 29 in Europe, with plans to increase our coverage of other markets in Europe, Latin America and Asia later this year."
"We will continue to expand with the aim of offering our Members as much actionable liquidity as possible, in order to maintain our position as Europe's number one block trading venue and the most popular choice for the buy-side," he added.
Today's additions bolster Liquidnet's strong presence in Central and Eastern Europe, with Poland, Slovenia, the Czech Republic, Hungary, Latvia and 18 other European markets available for trading.