SmartDark features prioritized routing to venues with larger executions sizes and better price stability
Liquidnet, a leading technology-driven agency execution specialist, today announced the release of SmartDark, its latest algorithm for its equities platform, designed to enhance how institutional traders can execute their trades through prioritized routing with larger executions and better price stability.
Alan Polo, Head of Sales and Trading, Americas, said: "Today's markets remain volatile and complex for buy-side traders to navigate. Although many algorithms in the market boast exceptional performance, the reality is that an algorithm's effectiveness depends entirely on the quality of the liquidity it can reach. SmartDark is a great illustration of our ability to develop innovative solutions for the buy-side that help traders access liquidity."
Available in the U.S., SmartDark incorporates a variety of yield and quality metrics to give traders an optimal blend of targeted liquidity-seeking strategy and maximum liquidity exposure, resulting in the opportunity to trade on high quality venues with better price stability.
Scott Kartinen, Head of Global Algo Products, commented: "Our algorithms are one of our core differentiators and we're proud to offer a new addition to our lineup. As one of the few unconflicted, agency-only brokers with expertise in lit, dark, and block markets, we are in a unique position to craft execution strategies that effectively navigate complex markets and secure the liquidity buy-side traders need. We're excited to see SmartDark aid our Members in executing their orders more efficiently."
The algorithm sits within the Liquidnet Dark space and leverages the existing framework to offer a new tool to enhance traders' execution abilities. Liquidnet Dark has an average block execution size of 28,000 shares for all trades crossed by Liquidnet and an overall block participation rate of 44%1
About Liquidnet
Liquidnet is a leading technology-driven, agency execution specialist that intelligently connects the world's investors to the world's investments. Since our founding in 1999, our network has grown to include more than 1,000 institutional investors and spans 57 markets across six continents. We built Liquidnet to make global capital markets more efficient and continue to do so by adding additional participants, enabling trusted access to trading and investment opportunities, and delivering the actionable intelligence and insight that our customers need. For more information, visit www.liquidnet.com and follow us on X @Liquidnet.
About TP ICAP Group plc
TP ICAP is a world-leading markets infrastructure and data solutions provider. The Group connects buyers and sellers in wholesale financial, energy and commodities markets. We are the world's largest wholesale market intermediary, with a portfolio of businesses that provide broking services, trade execution, data analytics, and market intelligence. www.tpicap.com
2024 Liquidnet Holdings, Inc. and its subsidiaries. Liquidnet, Inc. is a member of FINRA/SIPC/NFA. Liquidnet Europe Limited is authorised and regulated by the Financial Conduct Authority in the UK, is licensed by the Financial Sector Conduct Authority in South Africa and is a member of the London Stock Exchange and a remote member of the SIX Swiss Exchange. TP ICAP (EUROPE) SA is authorised by the Autorité de Contrôle Prudentiel et de Résolution and regulated by the Autorité des Marchés Financiers and is a remote member of the Warsaw Stock Exchange. Liquidnet Canada Inc. is a member of the Canadian Investment Industry Regulatory Organization and a member of the Canadian Investor Protection Fund. Liquidnet Asia Limited is regulated by the Hong Kong Securities and Futures Commission for Type 1 and Type 7 regulated activities and is regulated by the Monetary Authority of Singapore as a Recognized Market Operator. Liquidnet Japan Inc. is regulated by the Financial Services Agency of Japan and is a member of JSDA/JIPF. Liquidnet Australia Pty Ltd. is registered with the Australian Securities and Investment Commission as an Australian Financial Services Licensee, AFSL number 312525. Liquidnet Singapore Private Limited is regulated by the Monetary Authority of Singapore as a Capital Markets Services Licensee, CMSL number CMS 100757-1. Liquidnet Holdings, Inc. and its subsidiaries are part of TP ICAP Group plc.
1 | Liquidnet internal data, January 1, 2024 June 30, 2024 | |||
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Contacts:
Sophonie Robichon, Liquidnet
Global Marketing Communications
+44 20 3933 0153
srobichon@liquidnet.com
