NEW YORK, July 16, 2024 (GLOBE NEWSWIRE) -- GLMX, a leading global provider of intuitive technology solutions for repurchase agreements (repo), securities lending and money markets, today reported its second quarter platform activity highlights and provided further details on its continued growth in serving the securities finance industry.
- Average Daily Volume (ADV) increased by 74% YoY to $793 billion*.
- Average Daily Balance (ADB) rose 82% YoY to $2.38 trillion*#.
- GLMX continues to see increased activity on its multi-asset platform with the onboarding of clients in Securities Lending, demonstrating forward momentum with multiple industry-leading agent lenders.
- In line with its continuous investment in the business to support client demand, GLMX has made two significant new hires and secured an important approval in Singapore for its geographic expansion.
- GLMX continues to receive industry recognition for its best-in-class platform.
Second Quarter 2024 Highlights:
Record ADV/ADB for Securities Finance
- GLMX recorded record volume and balance growth, driven by new clients adopting the platform, existing clients increasing their business, and new functionality to support nuanced client workflows.
New Hires
- Demonstrating its continued commitment to growth and leadership, GLMX recently added Bob Zekraus and David Nicol to its global team.
Bob Zekraus has joined to lead global business development for securities lending, demonstrating a continued commitment to scaling our comprehensive securities lending trading technology to serve the industry’s increasing demands. Zekraus joins GLMX from Pirum, where he led geographic expansion and developed the commercial go-to-market strategy in the U.S. and Canada as COO and Head of the Americas.
David Nicol takes the newly-created role of Head of Commercial Operations, signifying the company’s commitment to commercial growth with the same client focus and operational rigor that has made GLMX an industry leader. Nicol joins with experience from a number of growth fintech companies, including LedgerEdge and R3.
Expansion
- Achieving a significant milestone for the Firm's commitment to markets throughout Asia, GLMX has been designated as a Recognized Market Operator (RMO) by the Monetary Authority of Singapore (MAS), effective May 28, 2024.
Industry Recognition
- GLMX was awarded Trading System of the Year and Client Services Team of the Year at the annual Securities Finance Times Excellence Awards gala. We are pleased to see our commitment to innovation and customer service recognized by the market as these are central tenets of our business.
About GLMX
GLMX is a leading global provider of intuitive trading solutions for repo, securities lending, and money markets. With offices in North America, EMEA and Asia-Pacific, global institutions across the sell-and buy-side rely on GLMX for enhanced market liquidity and to maximize trade lifecycle efficiency and reporting.
Our global technology solution has driven nearly $1 trillion in platform trading volumes per day, making GLMX the dominant player in this market segment. This powerful market position continues to expand as we diversify, taking our proven model into other market segments such as Total Return Swaps (TRS), and Time Deposits, CDs, and Commercial Paper. For more information about GLMX, please visit www.glmx.com.
*Single Counted
#ADB represents the average of daily outstanding transactions comprising all active term and open business.
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GLMX
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