LiquidX has opened new offices in London and Singapore and established a New York-based desk exclusively focused on Latin American transactions.
“Clients around the world are recognising the power of doing business on the LiquidX marketplace,” says Glenn Kocher (pictured), Global Head of Sales at LiquidX. “We’re rapidly ramping up to better serve our clients, no matter where they are located. It is a tremendous opportunity for us but we are also excited to be able to provide the global infrastructure our clients demand.”
The firm now offers the ability to process transactions in 25 separate legal jurisdictions and under 13 different sets of governing law. A significant increase in the number of cross border liquidity providers, as well as corporate members seeking a global solution, is driving this growth. LiquidX conducted its first non-US dollar denominated trade in the second quarter, executing a transaction in British pound sterling.
In the second quarter of the year, LiquidX ramped up global account receivables programs for two large corporates with revenues of over USD25billion and with regional bases in the United States and Singapore. The platform also saw increased participation from global players in Technology, Industrials, Energy, Petrochemicals and Healthcare sectors. The firm expects to onboard several large global clients in the technology and agro-commodities sectors in the coming quarter through products such as supply chain finance and inventory finance.
“We’re seeing strong interest in our marketplace in Asia,” says Rohit Goyal, Managing Director of LiquidX Singapore. “And we’re very pleased to be open for business here in Singapore.”
Volumes continue to grow as the company handled USD1.8 billion in transaction volume in the second quarter, as volume rose 64 per cent year-over-year. The platform also saw increased appetite from alternative investment funds, mainly private credit funds, as they increasingly look to access illiquid asset classes in a scalable and efficient manner. In total, the firm has processed USD13 billion in trade volume and handled USD52 billion in payments since its inception in January 2016.
“Since we first launched our marketplace at the beginning of 2016, we have recognised the need to offer our members truly global solutions making it easy for them to do business under different legal frameworks and in different currencies,” says Kocher. “We have worked tirelessly to provide our members with this global infrastructure and are pleased with the growth in cross-border activity we are seeing. We are increasingly looking to work with global corporates with liquidity needs across major geographies.”
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