NEW YORK, Jan. 23 /Xinhua-PRNewswire/ -- Liquidnet, the #1 electronic global marketplace for block trading, announced today that it has signed a definitive agreement to acquire Miletus Trading, a leading agency-only brokerage firm that provides advanced, quantitative execution strategies and analytics to institutional investors. The transaction is expected to close by the end of March, pending regulatory approval.
"Liquidnet’s acquisition of Miletus is an integral part of our strategy to build a more efficient global institutional marketplace for the buy side," said Seth Merrin, CEO of Liquidnet. "Miletus and Liquidnet are like-minded firms. Both companies are focused on how innovation and technology can empower buy-side traders and improve their trading results. Together, Liquidnet and Miletus will introduce the next-generation institutional trading model. We look forward to unveiling our new products to our joint Membership base in the coming months."
Michael Capelli, Co-founder and Managing Director of Miletus Trading, added, "By fusing Miletus’ technology with Liquidnet’s 3.5-billion-share liquidity pool we will create an even more compelling marketplace that advances the way institutions trade equities."
Putnam Lovell NBF Securities Inc. acted as sole financial adviser to Miletus during this transaction.
About Miletus Trading
New York-based Miletus Trading ( http://www.Miletustrading.com ) is a leader in quantitative execution technology. The agency-only broker was founded on the belief that buy-side traders and portfolio managers need more efficient and effective ways to employ real-time quantitative execution strategies. Miletus is a member of the NASD/SIPC.
About Liquidnet
Liquidnet is the #1 electronic marketplace for block trading. Liquidnet allows money management institutions to trade large blocks of equities directly and anonymously with significant price improvement and little-to-no market impact. Liquidnet launched in 2001, and the company now enables its Members to trade in 20 equity markets globally. Liquidnet is headquartered in New York with offices in London, Toronto, Tokyo and Hong Kong. Additional company information is available online at http://www.liquidnet.com .
(C)2006 Liquidnet Holdings, Inc. and its subsidiaries. Liquidnet, Inc. is a member of the NASD/SIPC. Liquidnet Europe Limited is regulated by the U.K. Financial Services Authority and is a member of the London Stock Exchange. Liquidnet Canada Inc. is regulated by the Ontario Securities Commission and is a member of IDA/CIPF. Liquidnet Asia Limited is applying to the Hong Kong Securities and Futures Commission for the relevant license / authorization to conduct regulated activities in Hong Kong and to the Australian Securities and Investments Commission for the relevant license / authorization to conduct regulated activities in Australia. Liquidnet Asia Limited is not currently licensed, regulated or otherwise authorized by the Monetary Authority of Singapore, and is not currently holding itself out as operating a market in Singapore. Liquidnet Japan Inc. is applying for a license/approval from the Financial Supervisory Agency of Japan and the Japan Securities Dealers Association.
