LiquidityBook reported yesterday record growth for sales and clients in 2019. LiquidityBook is a New York based fintech firm that provides Software-as-a-Service (SaaS) for buy- and sell-side trading solutions. The company attributes its record gains and accomplishments to the increasing interest of investment managers in its portfolio, order and execution management systems (POEMS) platform.
The report includes:
- A 33% year-over-year (YOY) increase in the revenues of 2019 and steady client growth for each of the products: LBX Buy-Side, LBX Sell-Side and LBX Outsourced Trader. Signing FNY Investment Advisers for multi-strategy management helped optimize the back end and LBX’s utilization of market data and fills processing.
- A 99% replacement of legacy platforms with new deployments. LiquidityBook’s Financial Information eXchange (FIX) network, LBX Connect, marked 85 % increase of orders and 35 % increase of overall fill traffic. The network now has 180 broker-dealers globally.
- The company also announced its expansion to Australia with its new office in Sydney. With the growth of clients in the Asia-Pacific region, LiquidityBook plans to further increase the client base there and provide local services.
- LiquidityBook’s growth in 2019 is also marked by several significant hires: Alexander Ponyrko as Principal Software Engineer and Andre Meintjes as Asia-Pacific Client Services Lead. Additionally, the company reports 50% increase of its headcount.
- The company marked its first client trading over 50 million shares a day and first client with over $20 billion in credit assets (Repos, Bank Debt, Collateralized Loans and Credit Derivatives).
Chief Revenue Officer Sean Sullivan commented:
Thanks to a record-setting number of new engagements, we finished the decade with our strongest year yet. The discussion around SaaS-based technologies and the benefits they offer on cost, functionality and service continues to be a key factor in firms’ willingness and desire to migrate from legacy platforms. People today clearly recognize how valuable web-based apps are in their everyday lives, and it’s only logical that there is a growing market for this model in the trading technology space as well.
It’s no secret that investment professionals must today offer more diverse products across the cap structure to stay competitive and retain assets. It is therefore very important to have a foundational product like LiquidityBook that can move with you as your business demands it to. Our workflow and asset class flexibility is one of the primary drivers for our 2019 growth, and based on our pipeline, we expect to see similarly strong demand in 2020.
In addition to the SaaS based model, LiquidityBook’s products employ the Amazon Web reliable and secure cloud services. This significantly decreases the need for third-party hosting, connectivity, trading, data back-up or business continuity planning services. It also allows for consistency in its services through weekly updates at a competitive prince point. LBX’s platform has flexible graphical user interface and allows custom columns creation and calculations.