CalPERS completes first trade on GLMX electronic trading platform
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CalPERS completes first trade on GLMX electronic trading platform 11 January 2023US Reporter: Carmella Haswell
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Global technology solution firm GLMX Technologies has welcomed CalPERS as the first US public pension fund to use its technology.
The California Public Employees鈥� Retirement System (CalPERS) has printed its first trade with a large global bank on the GLMX money market electronic trading platform.
GLMX says the pension fund has 鈥渁 long history of embracing innovative technology鈥� and the benefits which GLMX technology provides, including greater access to liquidity and reduced transaction costs.
Glenn Havlicek, CEO and co-founder of GLMX, says: 鈥淚t is significant when a market leader like CalPERS chooses GLMX for their securities finance needs.
鈥淭his continues the trend of the largest global financial institutions adopting GLMX technology to access deeper liquidity pools and to digitalise their daily trading workflow.鈥�
COO of GLMX Sal Giglio adds: 鈥淲ith 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.鈥�
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