Liquidnet extends reach in eastern Europe
Liquidnet, the buy-side-only crossing network, has increased its number of central and eastern European markets to seven with the addition of Estonia and Lithuania.
The firm started trading Polish equities in February and also offers trading in equities listed in the Czech Republic, Hungary, Latvia and Slovenia. The addition of the two new Baltic means Liquidnet now trades in 34 equity markets across five continents, plus London- and Luxembourg-listed GDRs.
John Barker, head of international, Liquidnet, predicted that expectations of an economic recovery in both Estonia and Lithuania, plus the former’s likely accession to the euro in 2011, would stimulate demand from the firm’s global client base.
The European Commission recently forecasted that Lithuania would achieve real GDP growth of 3.2% in 2011, while Estonian GDP is expected to increase by 3.8% in the same period.