New York, NY, May 21, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- LiquidX, the global network for illiquid assets, today announced trading volume reached $2.1 billion in the first quarter, including a monthly-record volume of $1.1 billion in March. The growth was fueled by the continued expansion of the network as several new members, including banks, corporates and insurers joined the LiquidX platform during the quarter. The number of transactions increased 546% during the quarter compared to Q1 2018.
“We’re very excited about the progress we’ve made in the past year, and the results from the first quarter demonstrate growth is continuing at an even faster pace,” noted Aarti Rao, Head of Sales and Client Services at LiquidX. “Our corporate clients, liquidity providers and strategic partners recognize the value of digitizing and streamlining trade finance transactions and we’re excited about our prospects for 2019.”
LiquidX recently added Credit Agricole CIB and Banco Santander to the platform. These two banks join a roster of leading banks, asset managers, credit funds, and other liquidity providers that transact on the platform. Ms. Rao commented, “We’re pleased to welcome Credit Agricole CIB and Banco Santander into the LiquidX network and look forward to working with both banks in supporting their clients’ trade financing needs.”
As announced in March 2019, LiquidX also recently launched a partnership with Marsh, a global leader in insurance broking and innovative risk management solutions, on a next-generation platform for the multi-trillion dollar trade credit insurance industry. The platform has hosted multiple transactions with two leading trade credit insurance carriers, Euler Hermes and Atradius. The platform provides insureds with easier access to the trade credit market by digitizing workflows to provide straight-through processing and pricing transparency.
About LiquidX
Through its leading technology and diverse network of global participants including major corporations, banks, institutional investors, and insurance providers, LiquidX provides an efficient and flexible platform for participants to transact across the trade finance, working capital and trade credit insurance asset classes in one place. LiquidX has executed over $19 billion of trade volume and processed $76 billion in post trade settlements since 2016. For more information about LiquidX, please visit www.liquidx.com.
Jon Teall
212-317-8296
jteall@teallassociates.com