Volumes jump 18% amid higher demand from institutions for blocksized executions
Liquidnet, the global institutional trading network, today announced a record year in Asia Pacific for 2015, with volumes up 18%, as compared to the previous year. This included records in Japan, Hong Kong, New Zealand, Singapore, Thailand, India and Indonesia.
The strong results were driven by increased demand in key markets by institutional asset managers for large blocks of stock. Principal traded was US$26 billion in Asia Pacific with average daily liquidity US$11.8 billion. Record performance in Japan contributed to the milestone for Liquidnet, with volumes climbing 22% yearover-year. Japan also achieved a record quarter in Q3, despite currency headwinds.
Lee Porter, Head of Liquidnet Asia Pacific, said, “The past year of trading was strong for the buy side, with Liquidnet members active across all 11 markets in the region, seven of which achieved record years. We have clearly benefited as the ongoing challenge facing traders in Asia is their ability to source liquidity in size on platforms they trust. Liquidnet’s role in delivering large blocks of shares globally, across 43 markets to more than 800 members, continues to drive our record performance.”
Liquidnet also reported record results in Hong Kong, the regional headquarters of the New York-based company, with trading up 20% year-over-year. Hong Kong also recorded the largest single trade in Asia Pacific for Liquidnet at over US$61 million, which was traded in the third quarter.
Porter added, “We are excited about 2016 and look forward to building on our record year, which includes adding new markets and new products to provide our members with the breadth of liquidity and trading solutions needed to operate effectively in Asia Pacific.”
The announcement follows Liquidnet being named the #1 Global Broker for Equities Operational Performance in the US, Europe and Asia, as part of the 2015 McLagan [Z/YEN] Survey of Operational Performance of Brokers.