Liquidnet’s fixed income trading saw a record $1.2 billion traded volume in the first quarter this year.
The fixed income platform saw more matches and trades combined than any previous quarter, with an approximate daily liquidity of $7 billion.
Liquidnet said the growth was driven by its increased membership - which now includes over 600 active traders - and services like targeted invitations and the portfolio manager workflow.
Constantinos Antoniades, global head of Liquidnet fixed income, said both services are “all about empowering the trader and arming them with the tools and technology they need to source liquidity.”
Targeted invitations for fixed income were launched in July last year, following the successful rollout of the mechanism in its equities dark pool.
They allow members of the dark pools to send invitations to trade with participants, giving traders the chance to find previously “hidden or dormant” liquidity.
Similarly, the portfolio manager workflow tool was launched at the end of last year and allows portfolio managers’ to create and assign indications to a trader.
Liquidnet added that to support the growth, it has expanded the US sales team with the addition of Michael Kovach who has joined from Electronifie and Sujit Naran from MarketAxess.
Both Kovach and Naran report directly to Chris Dennis, head of fixed income sales at Liquidnet.