GLMX Technologies LLC (“GLMX”), a comprehensive global technology solution for trading Money Market instruments, including repurchase agreements and securities lending transactions, announced that California Public Employees’ Retirement System (CalPERS) is the first U.S. public pension fund to use its technology. CalPERS, one of the world’s largest pension funds, printed its first trade with a large global bank on the GLMX platform yesterday.
“It’s significant when a market leader like CalPERS chooses GLMX for their securities finance needs,” said Glenn Havlicek, CEO and Co-Founder of GLMX. “This continues the trend of the largest global financial institutions adopting GLMX technology to access deeper liquidity pools and to digitalize their daily trading workflow”.
CalPERS has a long history of embracing innovative technology and the benefits – greater access to liquidity and reduced transaction costs – which GLMX technology provides.
“With several other leading pension funds, money market funds and corporate treasurers in our pipeline, we see the addition of CalPERS as an important first step in the next phase of growth in electronic trading across the securities financing market,” concluded Sal Giglio, COO of GLMX.