GLMX Technologies becomes registered alternative trading system
21 June 2018 New York
Image: Shutterstock
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.”
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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