GLMX reaches US$1 trillion in daily balances 01 December 2022US Reporter: Carmella Haswell
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GLMX Technologies, a global technology solution for trading money market instruments, has reached US$1 trillion in daily balances for the first time.
The balances represent the trading activity of global financial institutions which utilise GLMX technology to negotiate and execute securities financing transactions.
Since the inception of the firm in 2010, GLMX has accumulated US$120 trillion in volume executed via its technology.
The firm鈥檚 achievement occurs as the adoption of electronic trading for the securities finance market accelerates, according to GLMX.
Commenting on the milestone, CEO and co-founder of GLMX Glenn Havlicek says: 鈥淭he US$1 trillion mark is a major milestone for GLMX and reflects the powerful and ongoing technology shift in the overall securities finance industry.
鈥淎chieving this number, seemingly unreachable a few years ago, is a testament to the hard work done by the talented team at GLMX and the commitment of our network of market participants who use our technology every day.鈥�
COO of GLMX Sal Giglio adds: 鈥淕LMX has established itself as the leader in dealer-to-client electronic negotiation and execution of securities finance transactions, our firm has played a significant role in defining the sector.
鈥淲e have seen the adoption of GLMX trading technology increase dramatically over the past two years as many dealers and buy-side firms now view electronic trading as a prerequisite to establishing a comprehensive trading relationship鈥�.
Andy Wiblin, chief product officer at GLMX, comments: 鈥淕rowth has been driven by existing and new client activity globally across a diverse collateral set, with the balance split equally between flow coming from North America and EMEA.
鈥淢oney markets are a massive and globally overlapping ecosystem. While the move to
digitalisation in those markets appears to have passed the tipping point, there is still enormous work to be done. GLMX is thrilled to be part of that evolution.鈥�
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