GLMX: Balances Eclipse $2 Trillion
A press release entitled, "GLMX Surges as Balances Eclipse $2 Trillion and Volumes Reach Record." It tells us, "GLMX Technologies LLC ('GLMX'), a comprehensive global technology solution for trading Money Market instruments, including repurchase agreements and securities lending transactions, for the first time eclipsed $2.0 trillion in daily system balances on November 30. Over 110 major financial market participants utilize GLMX technology to negotiate and execute securities financing transactions (SFTs). Additionally, record average daily volume of $634 billion in November puts GLMX at or near the top of the heap for SFT execution platforms." CEO and Co-Founder Glenn Havlicek comments, "2023 has been a year of multiple milestones at GLMX. Today's announcement follows less than 5 months after we reached $1.5 trillion in balances and puts 2023 on track to be the fifth consecutive year in which we will have seen compound balance growth of over 100%" Sal Giglio, GLMX's COO, tells us, "GLMX has moved solidly from startup to a top provider in SFT execution, led by our diverse client base of hedge funds, asset managers, sovereign wealth funds, pension funds, insurance companies, money market funds, corporate treasurers, prime brokers and securities lenders.... In addition, our powerful base in the repurchase agreement (repo) space has given us significant momentum and we see accelerating adoption of our technology in other market segments including securities lending, time deposits and total-return-swaps." Finally, Chief Product Officer Andy Wiblin adds, "This year of milestones is a testament to the trust our ever-growing client base places in us to help get their business done. It would not have been possible without the skill, hard work and dedication shown by the entire GLMX team. It is truly inspirational to be able to work in an environment of constant innovation and incredible energy."
