Liquidnet, the institutional equities marketplace, today announced that it has been ranked the #1 broker worldwide and in North America in trading performance in a survey conducted by Ancerno Ltd., a New York based firm specializing in Transaction Cost Analysis and formerly a part of Abel/Noser Corp., on behalf of Bloomberg News. According to the absolute ranking, Liquidnet achieved the best trading prices for its Members in North America and globally.
In the relative ranking of the same survey which compares trades to similar ones categorized by difficulty and momentum, Liquidnet ranked #4 worldwide and #3 in North America. Liquidnet was in the top 10 in Europe and first among agency brokerage firms in both rankings.
"Not all execution venues are equal and not all liquidity is safe for institutions to access. This ranking is further recognition of the safety, efficiency and price improvement that our institutional marketplace provides globally. While other venues seek to attract more high frequency trading and other competing interests to their venues, Liquidnet continues to focus on building and strengthening our trusted institutional community of like-minded investors who can best execute their large orders," commented Seth Merrin, Founder and CEO of Liquidnet.
Liquidnet provides more than 630 asset management firms safety for their information and the opportunity to execute their institutional-sized orders in 39 markets around the world. Liquidnet's Members represent the largest asset managers in the world with approximately $12.5 trillion in AUM as of 12/31/10.
"Liquidnet is clearly doing something right, as indicated by their impressive standing in our survey. We often see favorable results on block trades executed through the Liquidnet platform," said Ted Morgan, Chief Operating Officer of Ancerno.
Methodology
Ancerno calculated the difference between the executed stock price and the price at the time the order was placed. For the relative ranking, brokers were also ranked on performance relative to the particular stock, size and momentum of each trade. All trades included in the ranking were reported during the four quarters ended September 30, 2010. This is the first year that execution only venues have been included in the report.