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.
“As many firms are retrenching, we have been focused on creating differentiated offerings for our buy-side Members in every one of our regions. This strong performance around the globe is confirmation that they are not only valuing these offerings but also taking more advantage of them,” said Seth Merrin, Founder and CEO of Liquidnet.
The first quarter of 2016 represented a record quarter for Liquidnet EMEA in overall principal traded as well as algorithm trading, which was up 380% year-over-year. In total, Liquidnet’s buy-side Members traded $39.6 billion in European equities, surpassing the previous best quarter (Q4 2015) by 6.2%. These quarterly results reflect 23% growth compared to the same quarter last year.
“We continue to see consistent growth in total principal traded in European equities, which is in stark contrast to the overall market decline in Q1,” said Mark Pumfrey, Head of Liquidnet EMEA. “As institutions gear up for MiFID II where best execution is paramount and natural block liquidity becomes even more valuable, we expect to see further growth in our core business, Next Gen Algos and Fixed Income offering.”
Liquidnet’s APAC region also witnessed record trading with buy-side Member firms trading US $7.3 billion in principal, and surpassing the previous best quarter (Q3 2015) by 7%. The region’s recently-launched algos saw tremendous growth, trading in excess of US $1 billion. The first quarter of 2016 also included Liquidnet’s latest market launch with the introduction of Taiwan, Liquidnet’s 12th market in the region and 44th equity market worldwide.
“Despite major industry headwinds, 2015 was a record year for us and we’re happy to see that momentum continue into the first quarter of 2016,” said Lee Porter, Head of Liquidnet Asia Pacific. “While others in our industry may be shying away from the region, we see a lot of potential and remain committed to growing our footprint as evidenced by our recent expansion of our algo offerings and opening up the Taiwanese equity market.”
Liquidnet Canada also showcased a noteworthy start to the year up 77% from the same quarter last year, with a record average daily volume of 3.6 million shares traded for the first quarter. In the US, Liquidnet reported solid growth with average daily volume of 46 million shares, up 21% compared to the same quarter in 2015. The US EQS team also celebrated a strong quarter, with algo volume up 77% from Q1 2015.