LiquidityEdge Reports Record Trading Volumes in February

The US treasuries trading venue is starting to take a significant chunk of total market share

US treasuries trading venue LiquidityEdge announced record trading volumes in February this Thursday.

A spokesperson for the firm told Finance Magnates that market participants traded $31 billion, in both on-the-runs and off-the-runs, on the final day of February.

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The trading venue also reported a record seven days of trading in the final week of last month.

According to a statement issued by the firm, investors traded $101 billion in US treasures between February 21-28.

Thursday’s news comes after a January in which LiquidityEdge reported a record daily average trading volume of $16 billion.

That figure was a massive 250 percent increase on the same month in 2018.

These figures are indicative of the strides that LiquidityEdge has taken since launching in 2015.

Rutter takes on the incumbents

Headed up by company founder David Rutter, who is also the CEO of blockchain company R3, the firm is setting its sights on the two market leaders in US treasuries – Nasdaq Fixed Income and BrokerTec.

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Rutter has some experience in taking on established players in the financial markets.

Prior to founding LiquidityEdge, he was the CEO of interdealer broker ICAP’s electronic trading division.

Within that division was EBS, the firm’s foreign exchange (FX) brokerage EBS, and the aforementioned BrokerTec.

LiquidityEdge CEO Nichola Hunter is also an ICAP electronic broking veteran having worked there for over eight years.

During his time at the helm of ICAP’s electronic trading team, Rutter enabled EBS to overtake Reuters as the dominant force in FX trading.

Whether the LiquidityEdge founder will be able to do the same in the fixed income market remains to be seen, but his company is making good progress in that direction.

On the same day that LiquidityEdge reported its record trading volume of $31 billion, Nasdaq Fixed Income had an equivalent volume of $38 billion – still more, but not much more.

In fact, from a market share high of 36 percent, Nasdaq Fixed Income now controls just under nine percent of fixed-income trading in US treasuries.

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