Leveraging the volatility and structural change seen across global markets in 2024, Liquidnet delivered a series of technology and product enhancements that reinforced its position as a leading provider of execution solutions for the buy side.
Through innovations in block trading, multi-asset execution and institutional liquidity access, the firm differentiated itself in the alternative trading technology space.
One of the most notable developments in 2024 was the global launch of SuperBlock Matching, a solution designed to facilitate the anonymous execution of exceptionally large equity blocks. By enabling controlled interaction between counterparties, SuperBlock Matching minimises market impact and improves execution quality. Since its launch, the platform has facilitated more than $4 billion in notional value across 318 crosses, delivering spread and market impact savings of 34.3 basis points.
Liquidnet also expanded its algorithmic suite with SmartDark, a US-based equities algorithm that prioritises routing for larger trades and enhances price stability. Block Capture, launched in the US and EMEA, extends the search for block trades when counterparties are unresponsive, increasing execution success rates.
In listed derivatives, the firm introduced Roll Seeker, an advanced tool for futures roll execution, and enhanced its pre-trade analytics with predicted volume curves and liquidity insights across 10 metrics.
Integrations accelerated bond-deal data processing by 90%, allowing members to access liquidity faster and more efficiently
The firm’s fixed-income offering also saw significant growth. The New Issue Trading (NIT) platform recorded a 177% year-on-year increase in notional traded, supported by AI-driven credit analytics and partnerships with bondIT and Boltzbit. These integrations accelerated bond-deal data processing by 90%, allowing members to access liquidity faster and more efficiently. The platform now captures more than 80% of new deal announcements.
Liquidnet’s global footprint continues to expand, with over 100 new members joining in 2024. The firm now operates across 57 equity markets, providing institutional investors with broad access to liquidity. Market share gains were recorded across all major regions: in Europe, Liquidnet executed 61% of all block prints over $20 million, including 15 of the top 20 largest trades; in the US, block trading revenues rose 23% year-on-year; and in Apac, volumes in India increased by 41%.
Infrastructure upgrades also played a key role in Liquidnet’s performance. A major enhancement to its US datacentre early in the year improved network resilience, expanded connectivity options and accelerated the delivery of innovation through cloud-based technologies.
The firm’s multi-asset strategy was further strengthened with the launch of a Multi-Asset Services Desk in EMEA, offering cross-asset trading opportunities and leveraging TP ICAP Group’s liquidity pools. In Apac, the VWAP Cross solution was extended to Singapore and the Philippines, supporting block-size orders at the full-day VWAP price before market open. The solution had a record-breaking year, with an average trade size of US$4.9 million per side and a single print of US$79.4 million in September.
Reflecting on the year, Chris Jackson, global head of equities at Liquidnet, says: “We’ve focused on solving real execution challenges for our clients – whether that’s minimising market impact, improving access to liquidity or delivering actionable analytics. The results speak for themselves.”
