GLMX Technologies becomes registered alternative trading system
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GLMX Technologies becomes registered alternative trading system 21 June 2018New York Reporter: Barney Dixon
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GLMX Technologies has been granted registration by the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) as a registered alternative trading system and broker-dealer.
GLMX is an independent financial technology company with offices in New York, Palo Alto, and London.
The company said it believes this registration is a “crucial step” that allows it to “provide more streamlined interaction and reporting between existing counterparties on both the buy and sell sides”.
GLMX has surpassed $3 trillion in aggregate system volume since the launch of its repo trading technology in 2016, and weekly trading volume recently surpassed $100 billion, an increase of over 900 percent year over year.
Glenn Havlicek, co-founder and CEO of GLMX, commented: “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.”
"Becoming a registered alternative trading system 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.”
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