Agency execution specialist Liquidnet has released in the U.S. a new algorithm for its equities platform. Dubbed SmartDark, the algorithm is intended to help institutional traders prioritize “routing to venues with larger execution sizes and better price stability,” officials say. “SmartDark incorporates a variety of yield and quality metrics to give traders an optimal blend… Read More >>
Prattle Acquisition Adds to Liquidnet’s A.I. Line-Up
Prattle Purchase Follows Related Liquidnet Acquisitions Liquidnet, an institutional trading network provider, has acquired Prattle, an automated investment research solutions vendor, in a bid to further expand the Liquidnet artificial intelligence (AI) investment analytics platform, officials say. Prattle was launched in 2014 by former academics Evan Schnidman and Bill MacMillan, and provides predictive analytics… Read More >>
Data’s Value Drives Acquisitions by ION & Liquidnet
Whatever IT disruptions are ahead, it’s clear that data, analytics and research are going to play key roles and are still top priorities as evidenced by two acquisitions announced on May 13. ION Investment Group has purchased for an undisclosed amount a controlling stake in Acuris, a provider of proprietary financial intelligence, data and analytics…. Read More >>
SWIFT Picks a New President
Pérez-Tasso to Replace Leibbrandt on July 1 Javier Pérez-Tasso has been appointed the new CEO of SWIFT, and he will replace Gottfried Leibbrandt on July 1. Leibbrandt previously announced at the end of last year that he would be stepping down at the end of June. Pérez-Tasso has been a member of the SWIFT executive… Read More >>
Hong Kong Firm Goes Live with GBST Solution
CMB Wing Lung Bank Revamps Back Office The Hong Kong-based CMB Wing Lung Bank has implemented a back-office custody solution from post-trade financial technology vendor GBST in an effort to grow its custody banking business, officials say. The bank, which is a subsidiary of China Merchants Bank, is using GBST’s Syn~Ops Custody product to… Read More >>
CRD Partners with AcadiaSoft & Expands Liquidnet Alliance
Charles River Development (CRD) will be working with AcadiaSoft via a new business alliance and expanding its partnership with Liquidnet — its first major industry moves since its acquisition last year by custodian giant State Street Corp. for $2.6 billion. When CRD was acquired in October 2018, the combined companies announced that they would build… Read More >>
Liquidnet & TradeSmart Partnership Targets Buy-Side Customers
TradeSmart Gets New Links to Liquidity With buy-side customers in mind, TradingScreen Inc. is partnering with Liquidnet, an institutional trading network, to allow the TradeSmart order and execution management system (OEMS) to access Liquidnet’s institutional liquidity and trading strategies, officials say. A TradingScreen offering, TradeSmart is a software as a service (Saas) targets best execution… Read More >>
Most Firms Overwhelmed by MiFID II’s Best Ex Rules
The onset of MiFID II may be only four months away, but a significant number of asset managers are not prepared to meet the best execution obligations, according to a new study, “Re-Engineering Best Execution,” conducted by Liquidnet, provider of a global institutional trading network. Canvassing 55 North American and European heads of trading and… Read More >>
Liquidnet Names Head of Technology for EMEA
Liquidnet Creates New Technology Role Liquidnet reports the appointment of Patrick Strobel as head of technology for EMEA, which the institutional trading network calls a “newly formed role.” Stroebel joins Liquidnet’s global technology group, reporting to Bob Garrett, head of technology. Strobel will be responsible for “building out Liquidnet’s strategic IT architecture in EMEA… Read More >>
Firms Want More Electronic Fixed Income Trading: Survey
Electronic trading platforms that facilitate fixed income transactions are increasingly becoming the preferred execution avenues while sourcing liquidity is the most important factor when selecting a venue, according to the Liquidnet’s first Fixed Income Institutional Voice Survey with U.S. and European institutional traders. The survey finds that discussions around trading have moved toward an increase… Read More >>
