Liquidnet is a global institutional investment network that connects asset managers with liquidity. Liquidnet trades in 46 equity markets for asset management firms who collectively manage US$33 trillion in equity and fixed income assets.
Merrin estimated that the network needed at least 100 buy side firms live on Day One to create a critical mass. This number was revised to 75, but the company ultimately launched with only 38 institutions.
Merrin describes his company as “creating marketplaces that enable institutions to trade in size with the efficiency that they sorely need.” In the U.S., Liquidnet’s average execution size of 50,000 shares is 200 times the size of the 250-share average traded in all lit and dark venues. Liquidnet’s average execution in international equities is reportedly 100 times larger than the average.
Liquidnet has an Equity Capital Markets and Issuer Services group which leverages its community of institutional investors to determine institutional demand for a stock.
In October 2011 Liquidnet launched a private shares market. As part of Liquidnet’s equity capital markets division, the Private Shares group works with institutional investors and companies looking to trade private shares.
In July 2011 SIX Swiss Exchange and Liquidnet launched a platform for non-displayed equity block trading. The platform allows SIX Swiss Exchange members and Liquidnet’s buy side members to execute large block trades.
In 2014, Liquidnet acquired bond trading platform Vega-Chi, a world leader in electronic trading facilities dedicated to high yield bonds and convertible bonds.
In 2017, Liquidnet acquired OTAS Technologies, a market-leading analytics platform that delivers actionable market intelligence and context directly to institutional traders and portfolio managers.
- Liquidnet Continues to Dominate Block Trading Globally During Third Quarter | Reuters
- Liquidnet opens fourth office in Singapore | TopNews Singapore Archived 2012-07-24 at Archive.is
- Seth Merrin: Imagining Wholesale Change - Advanced Trading
- Liquidnet attracts corporate share buy backs - FT.com
- Liquidnet Announces Strategic Investment in OTR Global
- Dark pool launches private share market - FT.com
- Liquidnet Hires Lou Kerner, Enters Secondary Market for Private Shares - NYTimes.com
- SIX exchange, Liquidnet report progress - FT.com
- Liquidnet And SIX Swiss Exchange Launch Platform For Non-Displayed Block Trading - Wall Street & Technology