Liquidnet, the institutional trading network, has reported a series of Asia Pacific trading records in May, including a record month of principal traded and the highest volume traded in a single day, since launching in the region five years ago.
The company, which operates in 10 markets across Asia Pacific, recorded USD2.16bn in principal traded for May while also seeing USD287m traded across a single day. Additional trading records set last month include:
• Highest volume traded across a single week with USD721m in principal traded;
• Largest volume traded in Hong Kong equities on a single day, totalling USD193m;
• Largest print in Indonesia, since launching the market in January 2011, exceeding USD20m; and
• Largest print in New Zealand equities, totalling approximately USD9m.
“As we continue to add new asset managers onto our trading network and grow our liquidity pool, our members continue to see how executing in Liquidnet helps drive their performance and achieve best execution for their large-scale trades,” says Lee Porter (pictured), head of Liquidnet Asia. “There is also a resurgence in equity markets which has contributed to the growth we are seeing. Our growing reach in the region, and rising liquidity pool, creates additional opportunities for our members to execute trades in often illiquid markets.”
Liquidnet launched the trading of Thailand equities on 30 April, marking the company’s 42nd market globally as it focuses on expansion into high growth markets in the region. The company also saw record results for Asia in Q1 2013 with principal traded rising 20 per cent to USD5bn, as compared to the previous quarter.
“We are definitely seeing higher conviction from our members and expect ongoing growth in our liquidity pool as the buyside seek to enter and exit positions across emerging markets, including those in Asia Pacific,” Porter adds.