NEW YORK, Dec. 05, 2023 (GLOBE NEWSWIRE) -- GLMX Technologies LLC (“GLMX”), a comprehensive global technology solution for trading Money Market instruments, including repurchase agreements and securities lending transactions, for the first time eclipsed $2.0 trillion in daily system balances on November 30. Over 110 major financial market participants utilize GLMX technology to negotiate and execute securities financing transactions (SFTs). Additionally, record average daily volume of $634 billion in November puts GLMX at or near the top of the heap for SFT execution platforms.
“2023 has been a year of multiple milestones at GLMX. Today’s announcement follows less than 5 months after we reached $1.5 trillion in balances and puts 2023 on track to be the fifth consecutive year in which we will have seen compound balance growth of over 100%,” said Glenn Havlicek, CEO and Co-Founder of GLMX.
“GLMX has moved solidly from startup to a top provider in SFT execution, led by our diverse client base of hedge funds, asset managers, sovereign wealth funds, pension funds, insurance companies, money market funds, corporate treasurers, prime brokers and securities lenders,” commented Sal Giglio, GLMX’s COO. “In addition, our powerful base in the repurchase agreement (repo) space has given us significant momentum and we see accelerating adoption of our technology in other market segments including securities lending, time deposits and total-return-swaps.”
GLMX was named the Trading System of the Year at the Securities Finance Times Industry Excellence Awards in July of 2023, highlighting the rapid growth and market adoption GLMX has achieved. Also, in October, GLMX was voted the Top Global Securities Finance Trading Platform in the Global Investor Group survey for the third year in a row.
“This year of milestones is a testament to the trust our ever-growing client base places in us to help get their business done. It would not have been possible without the skill, hard work and dedication shown by the entire GLMX team. It is truly inspirational to be able to work in an environment of constant innovation and incredible energy,” concluded Andy Wiblin, Chief Product Officer.
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About GLMX
Founded in 2010, GLMX is an independent financial technology company financed by Otter Capital and Tippet Venture Partners. Wall Street veterans partnered with Silicon Valley technologists to develop GLMX proprietary technology which provides an intuitive, comprehensive, integrated global money market trading solution for institutional participants. The goal of GLMX is to be a leader in technology, to maximize trade lifecycle efficiency and reporting and to improve client access to market liquidity. For more information, please visit https://www.glmx.com/.
