Liquidnet Review
Liquidnet is an institutional block trading network for buy side asset managers. TP ICAP bought it for up to $700 million in a deal completed in 2021.
Min Deposit
N/A
Spreads From
N/A
Max Leverage
N/A
Platforms
Liquidnet electronic trading network
Pros
- Founded in 1999 with over two decades connecting large asset managers
- Network spans about 45 markets and more than 1,000 buy side clients
- Built specifically to cut market impact on very large block trades
- Backed by TP ICAP, a large publicly listed interdealer broker group
- Separate regulated entities cover the US, UK, Hong Kong and Singapore
Cons
- Purely institutional, so individual retail traders cannot use the network
- No public pricing, minimum size or account opening details for outsiders
- Ownership sits with TP ICAP, so Liquidnet no longer runs as an independent firm
- Built around block equity and fixed income trades, not currency pairs
Liquidnet started in 1999 in New York, building a network that lets large asset managers trade big blocks of shares without moving the wider market. TP ICAP agreed to buy the firm in 2020 and closed the roughly $700 million deal in March 2021, folding Liquidnet into a much larger interdealer broker group.
The network now links more than 1,000 buy side clients who together manage about $33 trillion in equity and fixed income assets, spanning around 45 markets worldwide. Its entire purpose is cutting market impact on very large trades, not standard retail order execution or currency pairs.
Liquidnet Inc. is FINRA registered in the United States. Separate regional entities cover other markets: Liquidnet Europe Limited under the FCA in the UK, Liquidnet Asia Limited under Hong Kong's SFC, and Liquidnet Singapore Private Limited under MAS. None of this is retail facing, so there is no public minimum deposit.
Platforms
Regulators
- SEC (USA)
- FINRA
- FCA (UK)
- MAS (Singapore)
