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Liquidnet, the global institutional marketplace for equities trading, today announced that it had set a new quarter record for principal traded in EMEA securities, with £13,380m traded in Q2 2009.
The figures represent a 30% increase on the previous quarter and a 21% increase year-on-year, beating Liquidnet’s previous record, which was achieved in Q4 2007. The figure equates to an average daily principal traded of £219.3m.
John Barker, Managing Director of Liquidnet Europe, said “We are delighted with these figures. They clearly show that European institutional investors have a healthy and increasing appetite for block sized execution and execution quality. We are the number one venue for the buy-side in both of these areas, with a unique model that delivers the industry’s best overall trade cost performance. Ultimately, the ability to achieve best execution through Liquidnet benefits traders, portfolio performance, end investors, and is a positive sign for the industry as a whole.”
Liquidnet was ranked as top overall broker for equity trade cost performance1 globally according to the recently released 2008 ITG Broker Edge™ Core Broker2 Global Report. Additionally, a recent trade cost analysis by Elkins McSherry LLC calculated that Liquidnet Europe delivered an average market impact saving of 12.9 basis points compared with a global universe of trading costs in 47 countries3.
Background
- Performance is defined as the difference between the total execution cost and the expected total execution cost as defined by Investment Technology Group, Inc.’s PAEG/L® benchmark.
- “Core Broker” is defined by ITG Broker Edge™ as a firm satisfying the following: (a) global trading, (b) provides trading services in multiple asset classes, (c) provides research, and (d) offers soft dollar/CSA services.
- “Liquidnet Global Equity Trading Cost Analysis” (4 January 2008 - 31 March 2009), Elkins McSherry LLC.
