Drew Miyawaki has been appointed head of Liquidnet’s European trading desk, as part of an expansion of the firm’s services to institutional investors.
Best known for its buy-side-only crossing network, the firm’s European trading desk provides order-handling and execution services to buy-side clients. The agency-only trading desk helps clients to execute flow against Liquidnet’s buy-side-only liquidity pool, as well as the firm’s ‘Supernatural’ liquidity from streaming liquidity participants, which includes a number of leading brokers and multilateral trading facilities.
Previously senior trader on the desk, Miyawaki will oversee Liquidnet’s London-based team of traders and will be responsible for business development, continued growth of trading volumes and expansion of the desk’s coverage to include Asia.
The extension of the European trading desk’s reach to Asian and Australian liquidity – expected to take place before the end of the year – will provide Liquidnet’s European clients with 24 hour-a-day access to markets worldwide and the ability to outsource global orders to the firm’s London trading team.
Following the addition of Polish equities in February, Liquidnet now provides members with access to liquidity to in 31 markets, including 23 in Europe, plus London- and Luxembourg-listed GDRs. Last year, Liquidnet introduced its Supernatural service – which allows members to execute against retail-sized broker flow from selected liquidity sources – to European clients on a pilot basis.
Miyawaki will report to John Barker, Liquidnet’s head of international, who commented, “We are extremely pleased to formalise Drew’s position at a time of strong growth for the company. We are focused on increasing our market coverage and the liquidity we offer our buy-side members. Drew’s experience will be vital in expanding our trading desk service.”
Prior to joining Liquidnet’s portfolio trading division in New York, Miyawaki worked for Jefferies Portfolio Trading, Merrill Lynch, and DLJ Direct.