Liquidnet Achieves Ninth Quarter Of Consistent Growth
Average Daily Volume Climbs to Almost 30 Million Shares a
Day
New York, July 29, 2005 -- Liquidnet, the #1 electronic marketplace
for block trading, announced its second quarter 2005 results today.
The company achieved its ninth consecutive quarter of consistent
growth, boosting its average daily volume (U.S. equities) to 28.9
million shares in the second quarter. This represents a five
percent increase over the last quarter and a 46 percent increase
from the second quarter a
year ago.
Liquidnet executed 1.85 billion shares in the second quarter of
2005, an increase of ten percent over the previous quarter and more
than 50 percent over the same quarter last year. For the first time
since its launch in April 2001, Liquidnet broke the
"40-million-share-day" threshold numerous times.
Day Forex System Trading "We have kept our focus on providing our Members with the type
of institutional trading venue that they have been asking for,"
said Seth Merrin, Liquidnet CEO. "The buy-side industry is in
desperate need of an institutional marketplace where money managers
can access wholesale liquidity without having to compete for
retail-sized order flow. As long as we can offer that, Liquidnet
will continue to grow. I believe the best is yet to come."
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Broker Day Online Trading Liquidnet's Subscriber base continued to grow at a record pace
in the second quarter. The nearly 400 Liquidnet Subscribers
includes 70 percent of the top 100 U.S. asset managers and almost
40 percent of the top 300 asset managers (based on assets under
management). The Liquidnet
community's collective equity
assets under management grew by nearly $1.9 trillion during the
quarter, reaching $7.5 trillion.
Secure Corporation achieved accelerated, 11% quarter over quarter growth rate in its strategic Internet Service Provider (ISP) business during Q2. The overall Q2 revenue growth was also strong and increased by 18% compared to the same quarter last year, reaching a record level of ' 3.3m. EBIT was healthy at 16% of revenues, and ' .7m.
Day Strategy Trading Liquidnet Continues International Growth
"We were very pleased with our strong first quarter revenue growth, our 96% power plan new subscriber acquisition mix, and our continued growth in sales of consumables and supplies" said president and CEO Ken McBride. "We believe that we can grow 55% on the top line this year and that we can achieve profitability in the fourth quarter of 2004."
Day System Trading Liquidnet Europe traded more than 1.5 billion in principal
during the second quarter, and a record 3.2 billion for the first
half of the year. This represents an increase of 111 percent over
the same period in 2004. The average bargain value per trade for
the first half of 2005 was 669,729, which represents a 15.7 percent
increase over the first half of 2004. The number of executions in
the second quarter climbed 11 percent from the first quarter of
2005 and 111 percent from the second quarter in 2004. Liquidnet
Europe also launched two new European equity markets ? Austria and
Italy ? this quarter, bringing the total amount of instrument types
traded in Europe to twelve.
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Day Signal Trading In Canada, Liquidnet Canada Inc. announced this quarter that it
has been approved by the Autorité Des Marchés Financiers to conduct
business as a securities dealer
and Alternative Trading System in Québec. Liquidnet launched its
Canadian operations in Ontario last year on July 27, 2004.
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