GLMX Technologies LLC (“GLMX”), a comprehensive global technology solution for trading Money Market instruments, including repurchase agreements and securities lending transactions, for the first time eclipsed $1.5 trillion in daily balances yesterday. These balances represent the trading activity of some of the largest global financial institutions which utilize GLMX technology to negotiate and execute securities financing transactions (SFTs). Since inception, GLMX has seen $186 trillion in volume executed via its technology.
“Exceeding $1.5 trillion in balances reflects the over 120% year-over-year growth we saw at June 30 of this year. Further, it speaks to the amazing effort of GLMX employees and the speed at which the money market industry is welcoming innovative technology,” said Glenn Havlicek, CEO and Co-Founder of GLMX. “The success GLMX has achieved in the securities finance market is replicable across the greater money market ecosystem which is where we have been expanding our focus and will continue to do so moving forward.”
“Our diverse client-base, across 110 individual firms, includes 40 sell-side institutions and a solid mix of hedge funds, asset managers, sovereign wealth funds, pension funds, insurance companies, money market funds, corporate treasurers, prime brokers and securities lenders. This influential and growing network’s use of GLMX technology has established the platform as the leader in Dealer-to-Client (D2C) electronic trading of securities finance transactions,” added Sal Giglio, COO of GLMX.
GLMX was named the Trading System of the Year at the Securities Finance Times Industry Excellence Awards this month highlighting the rapid growth and market adoption GLMX has achieved. Also, within the last year, GLMX was voted the Top Global Securities Finance Trading Platform in the Global Investor Group survey for the second year in a row.
“This rapid growth, in large part, has been driven by the exceptional technology and premium user experience provided by GLMX. We are excited to apply this same playbook as we expand the product set to achieve our vision of creating a single application to unify access to historically fragmented liquidity pools,” concluded Andy Wiblin, Chief Product Officer.