Global trading network Liquidnet says it has launched EMEA Next Gen Algo suite. These algos are the only ones that fully leverage its network of more than 800 global institutions, it says.
The suite also features the firm’s new liquidity-seeking algo, Barracuda; this is designed to seek a block in Liquidnet whilst searching for available liquidity across both lit and dark markets.
Chris Jackson, European head of Liquidnet’s execution and quantitative services group notes that algos can only be as good as the liquidity they acces. “In current volatile market conditions, we see significant demand from our members and clients for algo solutions that combine the value of our block offering, with the opportunity to execute in the broader market,” he adds.
Liquidnet says that after its Next Gen Algos were rolled out in the US in August 2015, the market experienced a 61 percent year-on-year increase in average daily volume driven by algorithmic execution.