GLMX electronic repo market raises $20 million for European expansion

GLMX, an electronic marketplace for trading of repurchase agreements and secured lending, has raised $20 million in growth equity financing. The investment will help the firm expand its operations into major European markets and bolster its engineering team.

Its request-for-quote based buy-side- to-dealer trading platform is built to enhance the relationship between buy-side and sell-side counterparties, and addresses the need for a more efficient repo trading infrastructure, particularly in light of increasing regulatory reporting requirements.

In contrast to all-to- all, or peer-to- peer models, GLMX intuitively and electronically replicates the manual workflows that are broadly in use today, enabling easy adoption and limited disruption for market participants.

Read the full release

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