omniture

Liquidnet Sets Volume Records, Expands the Global Trading Community and Broadens Offerings With the Swift Integration of Miletus Trading

2007-07-25 08:42 627

Liquidnet-Miletus integrated Supernatural(TM) Strategies

Deliver Market Impact Savings of Approximately 24 Cents Per Share

NEW YORK, July 25 /Xinhua-PRNewswire/ --

Liquidnet, the top brokerage firm for global trading(1), announced its second quarter 2007 results today, posting record performance in the United States, Europe, and Canada. In addition, the rapid integration with Miletus Trading, an agency-only quantitative broker acquired March 2007, has accrued immediate benefit to Liquidnet's Membership by providing new program trading functionality.

"It is especially gratifying to see our strategy of building a single global institutional marketplace progressing so quickly," said Seth Merrin, CEO of Liquidnet. "We saw a nice increase in our average daily liquidity and believe we will continue to benefit from the greater global emphasis on achieving best execution and the expanding spectrum of trading opportunities presented by our Miletus acquisition."

Liquidnet Europe led the firm's global growth for the quarter, posting a record for principal traded with 7.5 billion pounds. Liquidnet Canada increased its average daily liquidity 44 percent to nearly 127 million shares. And Liquidnet U.S. had a record day for trading volume on April 26 with 90,757,700 shares; in addition, Members crossed 50 one-million or greater trades in the quarter.

Miletus Trading clients began benefiting from the first Liquidnet/Miletus integrated product -- a set of hybrid strategies that combine the two firms' functionalities. It has resulted in market impact savings of as much as 24 cents per share. This equates to portfolio-level performance enhancement of approximately 3.12 cents per share, when compared with Liquidnet's crossing rate of 13 percent.

Liquidnet (U.S.)

In addition to a record day for trading volume and the most million-share or greater trades in a quarter with 50, Liquidnet expanded its liquidity pool to a record 3.28 billion shares, with two billion shares through the negotiated pool and another 1.2 billion delivered to Liquidnet H2O through the firms' 18 Streaming Liquidity Partners. Liquidnet also posted an average execution size of more than 52,000, the highest in 20 quarters.

Average daily negotiated volume during the second quarter (54.6 million shares,) was the second-highest ever for the firm, behind a record Q1 2007 (56.8 million), and represented a 17 percent increase year-over-year.

Liquidnet Europe

Liquidnet Europe's 7.5 billion pounds in principal traded represents a 10 percent increase over last quarter's 6.8 billion pounds and a 90.72 percent rise from the same period a year ago (3.9 billion pounds). Total European Principal Liquidity for the quarter was 567,310,417,726 pounds. The number of member firms rose 11 percent over last quarter to 71 from 64.

Liquidnet Canada

Liquidnet Canada continued its aggressive rise since its launch on October 14, 2006, recording a 44 percent increase in average daily liquidity over last quarter (127 million shares vs. 88 million shares), a 24 percent quarterly increase in average daily volume (505 thousand shares vs. 407 thousand shares).

About Liquidnet

Liquidnet is the top brokerage firm for global trading. Liquidnet allows money management institutions to trade large blocks of equities directly and anonymously with significant price improvement and little-to-no market impact. Liquidnet launched in 2001, and the company now enables its Members to trade in 22 equity markets globally. Liquidnet is headquartered in New York with offices in London, Toronto, Tokyo, Hong Kong and Sydney. Additional company information is available online at http://www.liquidnet.com .

Liquidnet, Inc. is a member of the NASD/SIPC. Miletus Trading, LLC is a member of NASD/SIPC. Liquidnet Europe Limited is regulated by the U.K. Financial Services Authority and is a member of the London Stock Exchange. Liquidnet Canada Inc. is regulated by the Ontario Securities Commission and is a member of IDA/CIPF. Liquidnet Asia Limited is in the process of applying to the Hong Kong Securities and Futures Commission for the relevant license / authorization to conduct regulated activities in Hong Kong. Liquidnet Asia Limited is not currently licensed, regulated or otherwise authorized by the Monetary Authority of Singapore, and is not currently holding itself out as operating a market in Singapore. Liquidnet Japan Inc. is regulated by the Financial Services Agency of Japan and is a member of JSDA/JIPF. Liquidnet Australia Pty Ltd. is applying to the Australian Securities and Investments Commission for the relevant license/authorization to conduct regulated activities in Australia.

1. According to Institutional Investor December 2006 issue. Includes brokerages with greater than $2.25 billion in principal traded

Source: Liquidnet
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