NEWS UPDATE
MULTI-ASSET
Liquidnet to launch multi-asset trading desk
As part of the new expanded offering Liquidnet has appointed a new head of multiasset services as well as a head of multi-asset execution alongside several other trading-focused hires .
Liquidnet has launched a new multi-asset trading desk , providing its members with one centralised desk which gives access to liquidity across a variety of asset classes .
Speaking to The TRADE , Chris Jackson , global head of equity strategy and head of equities , EMEA , explained : “ There ’ s a number of different pieces that we ’ re drawing together . We operate in over 50 markets and block trading in equities is our main calling card so to speak . It is a business that we have evolved beyond just block trading , with a set of execution services , including algorithmic trading and high touch .
“ Clients have been asking us increasingly to take those core values , and the Liquidnet approach , and apply that to helping them simplify the complexity of multiasset trading so that ’ s what we ’ re doing , leveraging our unconflicted model and a technology-driven approach .”
Balraj Briah has been appointed head of multi-asset services , having most recently served as managing director at BTIG . He has also previously served in sales trading roles at Citi , Nomura , and BNY .
“ The trading landscape is evolving and so are our members ’ needs ,
Balraj Briah
that ’ s why we ’ re really excited to have Balraj on board . He brings a breadth of experience across multiple asset classes ,” Jackson tells The TRADE .
Alongside Briah , David Cannon joined Liquidnet as head of multiasset execution . He previously spent almost 17 years at Louis Capital Markets , most recently as head of equity trading . The addition of Briah and Cannon builds on several other new recent hires , including the appointment of multi-asset traders for the desk , with plans also in place for a senior hire in the analytics space – a major focus as part of the multi-asset push , The TRADE understands . Across the market the shift towards multi-asset trading has been clear to see , in particular given the advancement of technological capabilities , an increased focus on risk management , and increasing market intricacies .
Speaking to the timeliness of the move , Briah tells The TRADE that a key recent trend he has been observing is the acceleration towards multi-asset trading amongst the buy-side .
Liquidnet ’ s position as an agency broker is a key factor in how the business conducts itself across asset classes , said Jackson . The business is never competing or has a competing interest with its own trading book and as such has historically placed a high importance on the use of technology to help clients improve trading performance .
Speaking to what ’ s front of mind at this stage , Cannon said : “ Within multi-asset trading , a key consideration is that each asset class possesses its own unique trading difficulties . We need to bear in mind that there is no one-sizefits-all approach when it comes to trading different asset classes .
6 // TheTRADE // Q3 2024