GLMX Reports First Quarter 2024 Highlights
New York, April 23, 2024 - GLMX, a leading provider of global money market trading technology, including repurchase agreements (repo), securities lending and time deposits, today announced its platform activity highlights for the first quarter of 2024, along with significant developments in its ecosystem.
1Q Update:- Reported Average Daily Volume (ADV) of $703 billion*, up 83% year-on-year.
- Reported Average Daily Balance (ADB)(1) of $2.16 trillion*, up 99% year-on-year.
- Significant client traction for securities lending product.
- Leadership promotions set up GLMX for the next stage of growth.
- In line with its commitment to innovation, GLMX is ramping up activity on its cutting-edge securities lending product, seeing a strong increase in both client interest and activity. The delivery of a comprehensive, fully functional securities lending product for both equities and fixed income reflects several years of technology and client development. This strategic initiative serves existing customers as well as new client segments.
- EMEA and APAC activity represents 44% of repo ADB(2) , revealing diversified platform activity.
- Sal Giglio, previously Chief Operating Officer and Chief Markets Officer, has been promoted to President and Chief Revenue Officer. Andy Wiblin, previously Chief Product Officer, has been promoted to Chief Operating Officer.
- Glenn Havlicek, GLMX CEO and co-Founder said, “Sal and Andy are significant talents who have made, individually and collectively, irreplaceable contributions to GLMX’s success. These promotions both recognize those contributions and prepare our Company for its next stage of growth.”
- GLMX remains focused on driving continued growth and innovation across front-end trading. The company is committed to delivering exceptional value to its clients through its award-winning technology and will continue to prioritize client success and satisfaction, while also investing in its people, technology, and processes to maintain its leadership position in the securities finance market.
(1) ADB includes new transactions and live term and open transactions.
(2) Regional breakdown by collateral currency
* Single Counted
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GLMX+1 646 854-4569
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About GLMX
GLMX is a leading global provider of intuitive trading solutions for repo, securities lending, and money markets. With offices in North America, EMEA and Asia-Pacific, global institutions across the sell-and buy-side rely on GLMX for enhanced market liquidity and to maximize trade lifecycle efficiency and reporting.Our global technology solution has driven $1 trillion in platform trading volumes in a single day, making GLMX the dominant player in this market segment. This powerful market position continues to expand as we diversify, taking our proven model into other market segments such as Total Return Swaps (TRS), and Time Deposits, CDs, and Commercial Paper. For more information about GLMX, please visit https://www.glmx.com/.