Liquidnet, the electronic global marketplace for block trading, has announced that it has signed a definitive agreement to acquire Miletus Trading, the agency-only brokerage firm that provides quantitative execution strategies and analytics to institutional investors. The transaction is expected to close by the end of March, pending regulatory approval.
“Liquidnet’s acquisition of Miletus is an integral part of our strategy to build a more efficient global marketplace for the buy-side,” says Seth Merrin, CEO, Liquidnet. “Miletus and Liquidnet are like-minded firms. Both companies are focused on how innovation and technology can empower buy-side traders and improve their trading results. Together, Liquidnet and Miletus will introduce the next-generation institutional trading model. We look forward to unveiling our new products to our joint membership base in the coming months,” adds Merrin.
According to Michael Capelli, co-founder and managing director, Miletus Trading, “By fusing Miletus’ technology with Liquidnet’s 3.5-billion-share liquidity pool we will create an even more compelling marketplace that advances the way institutions trade equities.”