Liquidnet, an agency execution specialist, has introduced its SuperBlock initiative to strengthen its block trading capabilities.
The initiative kicked off with the launch of SuperBlock Matching, designed to facilitate participation in large or less liquid block trades.
This new offering caters to the needs of traders by providing a streamlined platform where such trades can be executed with ease.
The SuperBlock initiative harnesses Liquidnet’s extensive global buy-side community and block trading proficiency to establish a secure environment dedicated to handling some of the market’s most complex trades.
SuperBlock Matching specifically addresses the need for a more efficient and user-friendly platform that can adapt to varying trade sizes influenced by market conditions and stock market capitalization.
Mark Govoni, CEO of Liquidnet, emphasized that SuperBlock is a strategic enhancement of their existing services, developed in response to their members’ feedback.
It marks the beginning of a series of advanced workflows and services aimed at helping Liquidnet’s members access unique liquidity opportunities and facilitate their most challenging trades more efficiently.
Liquidnet is a prominent global markets infrastructure and data solutions provider, boasting over 1,000 institutional investors who manage a combined total of $33 trillion in equity and fixed-income assets across 49 markets on six continents.
Rob Cranston, Liquidnet’s Global Head of Equities Product, highlighted the pivotal role of Liquidnet Labs, the company’s innovation center, in developing and refining SuperBlock Matching.
He expressed confidence in the improved trading opportunities this initiative would offer to members.
In addition to its focus on block trading, Liquidnet is expanding its presence in the global listed derivatives market.
The firm recently hired Alex Grinfeld, previously with Morgan Stanley, to co-head its futures business in the Americas.
Liquidnet also partnered with BondIT to integrate its Scorable Credit Analytics into Liquidnet’s fixed-income trading platform, leveraging advanced data science, AI, and machine learning to enhance trading capabilities.
Moreover, Liquidnet has launched a pre-trade analytics tool for listed derivatives in both the U.S. and Europe, aimed at providing traders with critical insights into volume, liquidity, and expected market activity.
Meanwhile, TP ICAP, the parent company of Liquidnet, reported a net statutory profit of £74 million for 2023, with an adjusted profit of £227 million.
Despite a decline in statutory profit, the adjusted profit saw a 17% increase.
TP ICAP also demonstrated its financial resilience by allocating £30 million to its buyback program, underscoring its commitment to delivering shareholder value.
The successful integration of Liquidnet has led to significant cost savings, achieving £43 million annually, surpassing the initial savings target of £30 million.