Non-displayed institutional equity trading platform Liquidnet’s European operation traded just over £5.1 billion of principal in August – a new monthly record for the division and the first time its value traded has exceeded the £5 billion mark.
Liquidnet Europe also achieved a new monthly record in average daily principal traded in August of £257.5 million. The company’s one-day record for principal traded, recorded on 2 June, stands at £545.24 million.
According to John Barker, managing director of Liquidnet Europe, the platform’s new record reflects both an uptick in European trading activity following a slump at the end of last year and the beginning of this year as well as Liquidnet’s attractiveness to buy-side traders.
“These figures are a further indication of the volumes returning to the European market, as well as an endorsement of the execution quality we offer,” said Barker. “Breaking the £5 billion barrier, particularly during the traditionally lower volume month of August, really underlines the strength and depth of the Liquidnet pool.”
Liquidnet announced earlier this week that principal traded at its Asian operation, which launched on 29 November 2007, had breached the $1 billion mark in August, with more than $1.1 billion of Asian equities traded on the platform. The platform now trades equities listed in Hong Kong, Singapore, Korea, Japan and, since February this year, Australia.