[ I N D E P T H | T P I C A P & L I Q U I D N E T ] begins steadfast .
Liquidnet presents a significant opportunity for TP ICAP . Much like Liquidnet , the broker also operates multiple trading venues around the world but with a focus on commodities and interest rate derivatives .
The deal opens a door for TP ICAP to expand into equities with Liquidnet ’ s origins in client-toclient dark block trading , but it also provides buy-side connectivity in the credit market which , if married effectively with TP ICAP ’ s dealer relationships and liquidity , could prove disruptive for incumbent platforms MarketAxess , Tradeweb and Bloomberg .
Group head of strategy , Joanna Nader , tells The TRADE that TP ICAP ’ s strategy for its agency execution business has been to diversify its client base on the buy-side after focusing primarily on the hedge fund community . Liquidnet ’ s network of more than 1,000 buy-side clients , who collectively manage $ 33 trillion of assets in equities and fixed income ,
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