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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (9880)	4/4/2002 10:43:16 PM
From: LPS5	Respond to of 12617

Fastest-Launching ATS Trades One Billionth Share NEW YORK, April 4, 2002 Liquidnet Membership Grows By Nearly 150% In Less Than A Year On the heels of its one-year anniversary, Liquidnet announced today the execution of its one-billionth share and affirmed its position as the fastest-launching alternative trading system (ATS) in history for buy-side institutions. Launched in April 2001, Liquidnet has built a Member base of 134 institutions that collectively manage more than $4.3 trillion in equity assets. Members trade large blocks of stock anonymously and within the spread, with an average execution size of 62,000 shares. “This is a great milestone for us, but more important is what it represents,” said Seth Merrin, Liquidnet’s CEO and founder. “Liquidnet has built a successful wholesale trading marketplace for institutional investors – something that institutions have been wanting and needing for years. With transaction costs going through the roof in the last several years, our timing could not have been better.” In less than a full year of operation, the company has increased the number of Member institutions live on its network by nearly 150 percent – from 38 on day one to 89 today. Of the nearly 16,000 trades executed on the Liquidnet system, one out of every four has been for 100,000 shares or greater. The company has posted profits for three consecutive quarters. Most recently, Liquidnet announced its expansion into Europe, where it anticipates 30-40 European Member institutions to be live by the third quarter of this year dealing in UK, Dutch, Swiss, French, German and U.S. equities. “We have been continually impressed with the size and efficiency of the trade executions that we complete using Liquidnet,” said Peter Jenkins, Head Trader with Zurich Scudder Investments Inc. “By negotiating directly and anonymously with natural contra parties, Liquidnet has helped us avoid market impact costs.” To date, 92 percent of all Liquidnet trades have been executed within the spread, with 1/3 of those executed at the mid-point. About Liquidnet Launched in April 2001, Liquidnet is the fastest-launching alternative trading system (ATS) in history. Liquidnet’s unique model brings natural buyers and sellers together and enables them to anonymously negotiate trades among each other, without intermediaries or information leaks. Liquidnet’s institutional Members trade large blocks of small-, mid- and large-cap stocks easily, efficiently and with little to no market impact costs. The Liquidnet system was designed to bring liquidity to the trader, reversing the current paradigm of searching for liquidity — a search that costs the U.S. equities industry more than $100 billion a year in hidden transaction costs. Liquidnet, Inc. is a registered broker/dealer, headquartered in New York City with offices in Boston, Chicago and Los Angeles. Liquidnet Europe Limited is regulated by the Financial Services Authority and is headquartered in London.