[November 25, 2008] Liquidnet and NYSE Euronext Sign Liquidity Partnership Tweet NEW YORK, Nov 25, 2008 /PRNewswire via COMTEX/ -- Linkage Provides Price Improvement for Liquidnet's Buy-Side Membership and Exchange Participants Liquidnet, the global institutional marketplace, today announced that NYSE Arca, NYSE Euronext's (NYX) fully-owned subsidiary, has become a Liquidnet streaming liquidity partner. The agreement gives Liquidnet's 552 global buy-side Members (as of 6/30/08) protected access to liquidity at the NYSE Arca, while preserving the confidentiality of the Members' orders. The result is price improvement for exchange participants and Liquidnet Members, who both receive executions at the mid-point between the bid and ask spread. Adding liquidity from NYSE Arca is a significant enhancement to Liquidnet H2O(R), with benefits for both Liquidnet Members and investors trading on the exchange. "This partnership with NYSE Arca marks a proud moment for Liquidnet," said Seth Merrin, Liquidnet CEO. "When we launched Liquidnet H2O three years ago we knew it was the most effective means for the buy side to interact with external order flow with little-to-no market impact. Today, it is the central piece of a global institutional marketplace which offers large, buy-side investors the ability to source block liquidity from a worldwide community of institutional investment firms, streaming liquidity from the world's largest exchanges and leading broker-dealers, and strategic access to the open market." The NYSE Arca agreement will provide Liquidnet Members with direct access to exchange liquidity and serve to boost a crossing rate of 57 percent(1) in Liquidnet by means of the NYSE Arca IOI (Indication of Interest offering). "NYSE Arca welcomes Liquidnet as the newest addition to our substantial network of liquidity providers and we are proud to ally ourselves with such superior collectors of liquidity," said Paul Adcock, Executive Vice President of NYSE Arca Operations. "Today's partnership further demonstrates our commitment to strategically aggregating liquidity to benefit our customers." About Liquidnet H2O Launched in September 2005, Liquidnet H2O aggregates fragmented market liquidity and enables Liquidnet members to interact with liquidity in a controlled and secure environment against Streaming Liquidity Partners (SLPs) consisting of leading broker-dealers and other electronic trading systems. The Liquidnet H2O liquidity pool provides 8.5 billion shares per day on average (3Q'08). Liquidnet H2O provides price improvement to both the buyer and seller on all trades, as all trades in Liquidnet H2O are executed at the midpoint of the highest displayed bid and lowest displayed offer in the national market, or NBBO. About Liquidnet Liquidnet is an electronic marketplace that facilitates institutional equities trading for asset management firms worldwide. By giving buy-side traders a first look at a global natural liquidity pool of more than 8.74 billion shares per day of liquidity on average, Liquidnet consolidates and delivers the institutional equities market directly to the desktops of 552 buy-side trading firms. In addition to this pool of natural liquidity, Liquidnet's global marketplace provides its members with safe access to liquidity from broker-dealers and strategic access to external markets. Institutional investors use the Liquidnet marketplace to enhance the quality and speed of trade execution, gain price improvement for their trades, and, ultimately, lower overall trading costs. Launched in 2001, Liquidnet now trades in 29 equity markets across five continents. Liquidnet is headquartered in New York with offices in London, Toronto, Tokyo, Hong Kong, Sydney and Singapore. Additional company information is available online at www.liquidnet.com. About NYSE Euronext NYSE Euronext (NYX) is the world's leading, most liquid and diverse exchange group. It offers a broad and growing array of financial products and services in cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions, all designed to meet the evolving needs of issuers, investors and financial institutions. Spanning multiple asset classes and six countries, NYSE Euronext's exchanges include the New York Stock Exchange, Liffe, Euronext and NYSE Arca. With more than 6,500 listed issues, more than any other exchange group, trading on NYSE Euronext's equity markets represents more than one-third of the world's cash equities volume. NYSE Euronext also manages the leading European derivatives exchange by value of trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit www.nyx.com. Cautionary Note Regarding Forward-Looking Statements This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext's reference document for 2007 ("document de reference") filed with the French Autorite des Marches Financiers (Registered on May 15, 2008 under No. R. 08-054), 2007 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorite des Marches Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein. Liquidnet, Inc. is a member of FINRA/SIPC. Liquidnet Europe Limited is regulated by the U.K. Financial Services Authority and is a member of the London Stock Exchange. Liquidnet Canada Inc. is a member of IIROC and a member of CIPF. Liquidnet Asia Limited is regulated by the Hong Kong Securities and Futures Commission as a licensed dealer and a provider of automated trading services pursuant to the Securities and Futures Ordinance and is regulated by the Monetary Authority of Singapore as a Recognised Market Operator. Liquidnet Japan Inc. is regulated by the Financial Services Agency of Japan and is a member of JSDA/JIPF. Liquidnet Australia Pty Ltd. is a licensed corporation under the Corporations Act of Australia, AFSL number 312525. (1) Crossing rate is defined as shares crossed internally/total shares crossed and this number is for October 2008. SOURCE Liquidnet http://www.liquidnet.com [ Back To TMCnet.com's Homepage ]