Trading volume on LiquidX reached USD1.9 billion in the first quarter, as the company rapidly expanded its roster of corporations, assets, liquidity providers, and cross-border capabilities.
Trading volume was up 50 per cent year-over-year, while the number of transactions handled by LiquidX rose 88 per cent.
“Market participants are increasingly discovering the power of operating through a global network such as LiquidX, as they look to more efficiently connect and transact with multiple counterparties in one place,” says Glenn Kocher, who heads global sales at LiquidX. “Our platform empowers major corporations, banks, insurers, asset managers and hedge funds, and is designed to offer each participant the flexibility to leverage our leading technology in order to grow their business and to reduce their costs.”
LiquidX expanded its network of corporate participants in the first quarter to include additional Commodity Traders, Oil & Gas Companies, Equipment Manufacturers and other Diversified Industrials, Healthcare and Technology Companies. New investors started utilizing the platform as well, including Global Asset Managers and Global Banks in Europe, Latin America, Asia and the United States. The number of cross-border transactions tripled in the first quarter, as LiquidX continued to expand its multi-jurisdictional legal framework to include several new countries.
“In addition to the increase in cross-border transactions, we’re seeing a continued build-out of the type of assets transacted on platform,” says Kocher. “During the first quarter, our platform facilitated transactions across the working capital asset class, including supply chain and true sale inventory transactions, in addition to account receivables, as we continue to respond to our clients’ demand for increased operating leverage through asset class expansion.”
