New York, June 21, 2018 – GLMX Technologies, LLC (GLMX), a comprehensive technology solution for the trading of repurchase agreements (“repo”) and securities lending, has been granted registration by the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) as a registered alternative trading system (ATS) and broker-dealer. GLMX believes the registration is a crucial step that allows the Company to provide more streamlined interaction and reporting between existing counterparties on both the buy and sell sides.
The registration comes at a time of rapid growth for GLMX, which surpassed $3 trillion in aggregate system volume since its repo trading technology was launched in 2016. Weekly trading volume for GLMX has also hit an all-time high, recently surpassing $100 billion, an increase of over 900% year over year.
“The relentless push for efficiency and the demands of global regulatory reporting have reached a tipping point in the securities financing markets. As such, an electronic trading solution for these markets seems inevitable.” said Glenn Havlicek, Co-Founder and CEO of GLMX. "Becoming a registered ATS and broker-dealer is the next major step in our company's evolution and in helping to drive forward this structural shift in the market.”
GLMX’s customizable platform intuitively and electronically replicates the manual workflows that are widely used in repo trading, enabling easy adoption and limited disruption for all market participants.
In January 2018, GLMX completed a $20 million capital raise that coincided with the re-launch of its ground-up, redesigned technology.
Founded in 2010, GLMX is an independent financial technology company financed by Sutter Hill Ventures, 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/
For additional information, contact: P.J. Kinsella Paragon Public Relations +1-646- 558-6226 firstname.lastname@example.org