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Liquidnet Cooperates with BondAuction to Integrate OMS

by Damian Chmiel
  • The two companies want to expand access to book-building efficiencies.
  • BondAcution offers an auction platform for the debt capital markets.
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Liquidnet, a private trading operator owned by TP ICAP, announced on Wednesday that it is cooperating with BondAuction to provide access to BondAuction's offering from their Order Management System (OMS).

Liquidnet Cooperates with BondAuction

BondAuction, a provider of auction platforms for primary debt capital markets, will allow the company to offer institutional investors to submit bids directly to BondAcution with its own order management system and receive allocations back.

"We collaborated with hundreds of issuers, investors and underwriters to build our platform from the ground up. We want to offer a more efficient means to access capital markets and deliver change for the better," Spencer Maclean, the Co-Founder of BondAuction, commented.

As Liquidnet representatives stated, their solution for primary markets is available as a stand-alone offering and as an integration with other systems. According to Jonathan Gray, the Head of Primary Markets at Liquidnet, the partnership with BondAuction will provide even more connectivity and efficiency for issuers, banks and investors.

"BondAuction understands the importance of partnering with firms who share this common goal, and we are excited by this unique opportunity to work together with Liquidnet and further the reach of our innovative platform," Maclean added.

Watch the recent FMLS22 panel on advances in trading technology.

Product and Team Updates

In November 2022, the leading technology-driven agency execution specialist enhanced its equities trading application and integrated proprietary trading analytics powered by Liquidnet Investment Analytics (IA).

The solution enables better order execution decisions directly from the trading application and supports portfolio managers. Each client gets access to personalized analytics , visualized data and real-time notifications.

Meanwhile, Liquidnet has appointed Nichola Hunter as the Global Head of Sales for Fixed Income. Since last August, she has been stationed in London and reports directly to Mark Russell, the Head of Fixed Income at Liquidnet.

TP ICAP's latest financial report, including Liquidnet's revenue figures, was published in November 2022 and covered the three months that ended September 2022. Additionally, TP ICAP itself reported a 14% increase in revenue while Liquidnet's financial performance was 22% worse off.

"Global Broking revenue was up 12% (+20%). All asset classes generated high single-digit to double-digit growth, reflecting the continued strong performance. E&C revenue declined by 12% (-3%). In Agency Execution, including Liquidnet, revenue declined by 1% (+6%)," TP ICAP commented in the trading update.

Liquidnet became part of TP ICAP in March 2021 when the company completed a $700 million acquisition. As part of the deal, the interdealer broker wanted to increase its electronic trading capabilities.

Liquidnet, a private trading operator owned by TP ICAP, announced on Wednesday that it is cooperating with BondAuction to provide access to BondAuction's offering from their Order Management System (OMS).

Liquidnet Cooperates with BondAuction

BondAuction, a provider of auction platforms for primary debt capital markets, will allow the company to offer institutional investors to submit bids directly to BondAcution with its own order management system and receive allocations back.

"We collaborated with hundreds of issuers, investors and underwriters to build our platform from the ground up. We want to offer a more efficient means to access capital markets and deliver change for the better," Spencer Maclean, the Co-Founder of BondAuction, commented.

As Liquidnet representatives stated, their solution for primary markets is available as a stand-alone offering and as an integration with other systems. According to Jonathan Gray, the Head of Primary Markets at Liquidnet, the partnership with BondAuction will provide even more connectivity and efficiency for issuers, banks and investors.

"BondAuction understands the importance of partnering with firms who share this common goal, and we are excited by this unique opportunity to work together with Liquidnet and further the reach of our innovative platform," Maclean added.

Watch the recent FMLS22 panel on advances in trading technology.

Product and Team Updates

In November 2022, the leading technology-driven agency execution specialist enhanced its equities trading application and integrated proprietary trading analytics powered by Liquidnet Investment Analytics (IA).

The solution enables better order execution decisions directly from the trading application and supports portfolio managers. Each client gets access to personalized analytics , visualized data and real-time notifications.

Meanwhile, Liquidnet has appointed Nichola Hunter as the Global Head of Sales for Fixed Income. Since last August, she has been stationed in London and reports directly to Mark Russell, the Head of Fixed Income at Liquidnet.

TP ICAP's latest financial report, including Liquidnet's revenue figures, was published in November 2022 and covered the three months that ended September 2022. Additionally, TP ICAP itself reported a 14% increase in revenue while Liquidnet's financial performance was 22% worse off.

"Global Broking revenue was up 12% (+20%). All asset classes generated high single-digit to double-digit growth, reflecting the continued strong performance. E&C revenue declined by 12% (-3%). In Agency Execution, including Liquidnet, revenue declined by 1% (+6%)," TP ICAP commented in the trading update.

Liquidnet became part of TP ICAP in March 2021 when the company completed a $700 million acquisition. As part of the deal, the interdealer broker wanted to increase its electronic trading capabilities.

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