Liquidnet a New Institutional ATS Debuts With Unprecedented Liquidity

Apr 11, 2001, 01:00 ET from Liquidnet

    NEW YORK, April 11 /PRNewswire/ -- Liquidnet, the first Internet-enhanced
 Alternative Trading System (ATS), debuted yesterday with an unprecedented
 amount of liquidity.  Liquidnet set out to bring liquidity to the buy side
 community and it delivered in record numbers. With first-day executed shares
 of 3,836,200 and an average execution size of 51,000 shares Liquidnet has
 established itself as the new venue for true institutional liquidity.
 Liquidnet's traded volume was 60% listed and 40% over the counter.
     "We were pleasantly surprised with the amount of liquidity we saw on day
 one. We believe Liquidnet has great potential. We will continue to use it and
 hope that many of our contemporaries do the same", said Kevin Cronin, head
 trader, AIM Advisors Inc.
     John Wheeler, head trader of American Century Investments commented, "It
 was easy, it was fast and the market didn't know what we were doing. We were
 able to trade large blocks at the mid.", continued Mr. Wheeler.
     "Liquidnet really delivered on its promise--anonymous block trading that's
 simple to use. I will be making calls to my peers, because it is in my
 interest that they participate on the system" said Leo Smith, of Putnam
 Investment Management.
     Seth Merrin, CEO of Liquidnet, explained, "Liquidnet was designed
 exclusively for buy side institutions to trade large blocks of stocks
 anonymously amongst each other. Our goal is to bring the liquidity directly to
 our Members-reversing the previous paradigm of searching for liquidity.  That
 search costs the industry over $100 billion annually."
     "When we flicked the switch on, there was instant liquidity available-this
 liquidity will grow geometrically as we add more Members", noted Mr. Merrin
 
     About Liquidnet
     Liquidnet is an Alternative Trading System (ATS) for large institutional
 investors designed to allow the trading of large blocks of stocks anonymously
 with little to no market impact costs.  Liquidnet's unique architecture and
 model have solved the major problem facing B2B exchanges and ATSs-building a
 critical mass of liquidity. Through advanced Internet-enhanced technologies,
 Liquidnet creates a community of large institutions that delivered massive
 liquidity on day one.  Liquidnet is a registered broker / dealer,
 headquartered in New York City, with offices in Boston, Chicago and Los
 Angeles.
 
     "We bring liquidity to you.(TM)"
 
     Additional company and product information is available online at
 http://www.liquidnet.com.
 
 

SOURCE Liquidnet
    NEW YORK, April 11 /PRNewswire/ -- Liquidnet, the first Internet-enhanced
 Alternative Trading System (ATS), debuted yesterday with an unprecedented
 amount of liquidity.  Liquidnet set out to bring liquidity to the buy side
 community and it delivered in record numbers. With first-day executed shares
 of 3,836,200 and an average execution size of 51,000 shares Liquidnet has
 established itself as the new venue for true institutional liquidity.
 Liquidnet's traded volume was 60% listed and 40% over the counter.
     "We were pleasantly surprised with the amount of liquidity we saw on day
 one. We believe Liquidnet has great potential. We will continue to use it and
 hope that many of our contemporaries do the same", said Kevin Cronin, head
 trader, AIM Advisors Inc.
     John Wheeler, head trader of American Century Investments commented, "It
 was easy, it was fast and the market didn't know what we were doing. We were
 able to trade large blocks at the mid.", continued Mr. Wheeler.
     "Liquidnet really delivered on its promise--anonymous block trading that's
 simple to use. I will be making calls to my peers, because it is in my
 interest that they participate on the system" said Leo Smith, of Putnam
 Investment Management.
     Seth Merrin, CEO of Liquidnet, explained, "Liquidnet was designed
 exclusively for buy side institutions to trade large blocks of stocks
 anonymously amongst each other. Our goal is to bring the liquidity directly to
 our Members-reversing the previous paradigm of searching for liquidity.  That
 search costs the industry over $100 billion annually."
     "When we flicked the switch on, there was instant liquidity available-this
 liquidity will grow geometrically as we add more Members", noted Mr. Merrin
 
     About Liquidnet
     Liquidnet is an Alternative Trading System (ATS) for large institutional
 investors designed to allow the trading of large blocks of stocks anonymously
 with little to no market impact costs.  Liquidnet's unique architecture and
 model have solved the major problem facing B2B exchanges and ATSs-building a
 critical mass of liquidity. Through advanced Internet-enhanced technologies,
 Liquidnet creates a community of large institutions that delivered massive
 liquidity on day one.  Liquidnet is a registered broker / dealer,
 headquartered in New York City, with offices in Boston, Chicago and Los
 Angeles.
 
     "We bring liquidity to you.(TM)"
 
     Additional company and product information is available online at
 http://www.liquidnet.com.
 
 SOURCE  Liquidnet