Liquidnet,
a private trading operator owned by TP ICAP, announced on Wednesday that it is cooperating with BondAuction to provide access to BondAuction’s offering from their Order
Management System (OMS).
BondAuction,
a provider of auction platforms for primary debt capital markets, will allow
the company to offer institutional investors to submit bids directly to
BondAcution with its own order management system and receive allocations back.
“We collaborated with hundreds of
issuers, investors and underwriters to build our platform from the ground up.
We want to offer a more efficient means to access capital markets and deliver
change for the better,” Spencer Maclean, the Co-Founder of BondAuction, commented.
As Liquidnet
representatives stated, their solution for primary markets is available as a
stand-alone offering and as an integration with other systems. According to
Jonathan Gray, the Head of Primary Markets at Liquidnet, the partnership with
BondAuction will provide even more connectivity and efficiency for issuers,
banks and investors.
“BondAuction
understands the importance of partnering with firms who share this common goal, and we are excited by this unique opportunity to work together with Liquidnet
and further the reach of our innovative platform,” Maclean added.
Watch the recent FMLS22 panel on advances in trading technology.
Product and
Team Updates
In November
2022, the leading technology-driven agency execution specialist enhanced its
equities trading application and integrated proprietary trading analytics powered
by Liquidnet Investment Analytics (IA).
The
solution enables better order execution decisions directly from the trading
application and supports portfolio managers. Each client gets access to
personalized analytics , visualized data and real-time notifications.
Meanwhile, Liquidnet has appointed Nichola Hunter as the Global Head of Sales for Fixed
Income. Since last August, she has been stationed in London and reports directly to Mark Russell, the Head of Fixed Income at Liquidnet.
TP ICAP’s
latest financial report, including Liquidnet’s revenue figures, was published
in November 2022 and covered the three months that ended September 2022. Additionally, TP
ICAP itself reported a 14% increase in revenue while Liquidnet’s financial
performance was 22% worse off.
“Global
Broking revenue was up 12% (+20%). All asset classes generated high
single-digit to double-digit growth, reflecting the continued strong
performance. E&C revenue declined by 12% (-3%). In Agency Execution,
including Liquidnet, revenue declined by 1% (+6%),” TP ICAP commented in
the trading update.
Liquidnet
became part of TP ICAP in March 2021 when the company completed a $700 million acquisition.
As part of the deal, the interdealer broker wanted to increase its electronic
trading capabilities.
Liquidnet,
a private trading operator owned by TP ICAP, announced on Wednesday that it is cooperating with BondAuction to provide access to BondAuction’s offering from their Order
Management System (OMS).
BondAuction,
a provider of auction platforms for primary debt capital markets, will allow
the company to offer institutional investors to submit bids directly to
BondAcution with its own order management system and receive allocations back.
“We collaborated with hundreds of
issuers, investors and underwriters to build our platform from the ground up.
We want to offer a more efficient means to access capital markets and deliver
change for the better,” Spencer Maclean, the Co-Founder of BondAuction, commented.
As Liquidnet
representatives stated, their solution for primary markets is available as a
stand-alone offering and as an integration with other systems. According to
Jonathan Gray, the Head of Primary Markets at Liquidnet, the partnership with
BondAuction will provide even more connectivity and efficiency for issuers,
banks and investors.
“BondAuction
understands the importance of partnering with firms who share this common goal, and we are excited by this unique opportunity to work together with Liquidnet
and further the reach of our innovative platform,” Maclean added.
Watch the recent FMLS22 panel on advances in trading technology.
Product and
Team Updates
In November
2022, the leading technology-driven agency execution specialist enhanced its
equities trading application and integrated proprietary trading analytics powered
by Liquidnet Investment Analytics (IA).
The
solution enables better order execution decisions directly from the trading
application and supports portfolio managers. Each client gets access to
personalized analytics , visualized data and real-time notifications.
Meanwhile, Liquidnet has appointed Nichola Hunter as the Global Head of Sales for Fixed
Income. Since last August, she has been stationed in London and reports directly to Mark Russell, the Head of Fixed Income at Liquidnet.
TP ICAP’s
latest financial report, including Liquidnet’s revenue figures, was published
in November 2022 and covered the three months that ended September 2022. Additionally, TP
ICAP itself reported a 14% increase in revenue while Liquidnet’s financial
performance was 22% worse off.
“Global
Broking revenue was up 12% (+20%). All asset classes generated high
single-digit to double-digit growth, reflecting the continued strong
performance. E&C revenue declined by 12% (-3%). In Agency Execution,
including Liquidnet, revenue declined by 1% (+6%),” TP ICAP commented in
the trading update.
Liquidnet
became part of TP ICAP in March 2021 when the company completed a $700 million acquisition.
As part of the deal, the interdealer broker wanted to increase its electronic
trading capabilities.