Liquidnet’s strength as a block-trading platform in the equity market may have paved its way for buy-side adoption in bonds, but it has certainly proven itself in this asset class.
In 2014 it had an 18% market share; that is now over 50% across its GUI and trading venue.
It has a balance of all-to-all trading which 70% of its users prefer, with 26% bilateral liquidity sourcing and small percentage of click-to-trade activity
The pipeline for business is light, as with many of the other big four, however the firm has a solid business and user base with the buy side traders; 42% of traders are confident they will still be using Liquidnet in five years time, and increased innovation around primary markets in 2020 is expected to cement that support further.
©The DESK 2020