NEW YORK, April 23, 2024 (GLOBE NEWSWIRE) -- GLMX, a leading provider of global money market trading technology, including repurchase agreements (repo), securities lending and time deposits, today announced its platform activity highlights for the first quarter of 2024, along with significant developments in its ecosystem.
1Q Update:
- Reported Average Daily Volume (ADV) of $703 billion, up 83% year-on-year.
- Reported Average Daily Balance (ADB)(1) of $2.16 trillion, up 99% year-on-year.
- Significant client traction for securities lending product.
- Leadership promotions set up GLMX for the next stage of growth.
Selected Highlights:
- In line with its commitment to innovation, GLMX is ramping up activity on its cutting-edge securities lending product, seeing a strong increase in both client interest and activity. The delivery of a comprehensive, fully functional securities lending product for both equities and fixed income reflects several years of technology and client development. This strategic initiative serves existing customers as well as new client segments.
- EMEA and APAC activity represents 44% of repo ADB(2), revealing diversified platform activity.
- Sal Giglio, previously Chief Operating Officer and Chief Markets Officer, has been promoted to President and Chief Revenue Officer. Andy Wiblin, previously Chief Product Officer, has been promoted to Chief Operating Officer.
- Glenn Havlicek, GLMX CEO and co-Founder said, “Sal and Andy are significant talents who have made, individually and collectively, irreplaceable contributions to GLMX’s success. These promotions both recognize those contributions and prepare our Company for its next stage of growth.”
Commentary:
- GLMX remains focused on driving continued growth and innovation across front-end trading. The company is committed to delivering exceptional value to its clients through its award-winning technology and will continue to prioritize client success and satisfaction, while also investing in its people, technology, and processes to maintain its leadership position in the securities finance market.
(1) ADB includes new transactions and live term and open transactions.
(2) Regional breakdown by collateral currency
About GLMX
Founded in 2010, GLMX is an independent financial technology company financed by Otter Capital and Tippet Venture Partners. Wall Street veterans partnered with Silicon Valley technologists to develop GLMX proprietary technology which provides an intuitive, comprehensive, integrated global money market trading solution for institutional participants. As a registered alternative trading system (ATS) and SEC-registered broker-dealer, GLMX’s mission is to be a leader in technology, to maximize trade lifecycle efficiency and reporting and to improve client access to market liquidity. For additional information, please visit www.glmx.com and follow on LinkedIn and Twitter.
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GLMX
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