GLMX Quarterly Report: 2Q 2024
16 July 2024 - 7:00PM
GLMX, a leading global provider of intuitive technology solutions
for repurchase agreements (repo), securities lending and money
markets, today reported its second quarter platform activity
highlights and provided further details on its continued growth in
serving the securities finance industry.
- Average Daily Volume (ADV) increased
by 74% YoY to $793 billion*.
- Average Daily Balance (ADB) rose 82%
YoY to $2.38 trillion*#.
- GLMX continues to see increased
activity on its multi-asset platform with the onboarding of clients
in Securities Lending, demonstrating forward momentum with multiple
industry-leading agent lenders.
- In line with its continuous
investment in the business to support client demand, GLMX has made
two significant new hires and secured an important approval in
Singapore for its geographic expansion.
- GLMX continues to receive industry
recognition for its best-in-class platform.
Second Quarter 2024 Highlights:
Record ADV/ADB for Securities Finance
- GLMX recorded record volume and
balance growth, driven by new clients adopting the platform,
existing clients increasing their business, and new functionality
to support nuanced client workflows.
New Hires
- Demonstrating its continued
commitment to growth and leadership, GLMX recently added Bob
Zekraus and David Nicol to its global team.Bob Zekraus has joined
to lead global business development for securities lending,
demonstrating a continued commitment to scaling our comprehensive
securities lending trading technology to serve the industry’s
increasing demands. Zekraus joins GLMX from Pirum, where he led
geographic expansion and developed the commercial go-to-market
strategy in the U.S. and Canada as COO and Head of the
Americas.David Nicol takes the newly-created role of Head of
Commercial Operations, signifying the company’s commitment to
commercial growth with the same client focus and operational rigor
that has made GLMX an industry leader. Nicol joins with experience
from a number of growth fintech companies, including LedgerEdge and
R3.
Expansion
- Achieving a significant milestone
for the Firm's commitment to markets throughout Asia, GLMX has been
designated as a Recognized Market Operator (RMO) by the Monetary
Authority of Singapore (MAS), effective May 28, 2024.
Industry Recognition
- GLMX was awarded Trading System of
the Year and Client Services Team of the Year at the annual
Securities Finance Times Excellence Awards gala. We are pleased to
see our commitment to innovation and customer service recognized by
the market as these are central tenets of our business.
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 nearly $1 trillion in
platform trading volumes per 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
www.glmx.com.
*Single Counted
#ADB represents the average of daily outstanding transactions
comprising all active term and open business.
Media inquiries, please contact:GLMX646
854-4569sales@glmx.com