# Liquidnet

> Liquidnet is a technology-driven agency execution specialist serving institutional investors through block trading, algorithmic execution, analytics, and trading-desk services. Founded in 1999 and acquired by TP ICAP in 2021, it connects a global buy-side community while helping traders manage market impact and information disclosure. Its former fixed-income platform became RealQ in June 2026.

- **Founded:** 1999
- **Headquarters:** New York, United States
- **Founders:** Seth Merrin (Co-founder; former CEO and executive chairman), Eric LeGoff (Co-founder; former chief operating officer)
- **Products:** Institutional equity block trading, Meridian, SuperBlock Matching, SuperBlock Targeted Invitations, Listed Derivatives
- **Notable:** Launched its US institutional network with 38 member firms in 2001., Reached its 200th member firm in 2004, according to the company timeline., Introduced SuperBlock in 2024 and SuperBlock TI in October 2026.

## Products & services

- **Institutional equity block trading** — Matches institutional trading interest with controls intended to limit market impact and information leakage. The US network launched with 38 member firms.
- **Meridian** — Algorithmic execution suite combining algorithms, liquidity access, transaction cost analysis, quantitative services, and execution consulting; introduced September 17, 2026.
- **SuperBlock Matching** — Part of the SuperBlock initiative for exceptionally large institutional equity trades.
- **SuperBlock Targeted Invitations** — Lets traders choose recipients for large-order trading interest backed by live client orders; accessible through Bloomberg IOIA, the Liquidnet App, and EMS connectivity.
- **Listed Derivatives** — Agency execution and execution consulting for futures and options, supported by algorithmic order management and electronic workflow tools.
- **Roll Seeker** — Supports bilateral block negotiation at mid prices for fixed-income and equity-index futures calendar rolls.
- **Execution and Quantitative Services** — Execution consulting, analytics, quantitative models, and access to the Global Trading Desk for single stocks and programs.
- **Commission Management** — Commission aggregation, broker evaluation, research payment support, and reporting workflows.
- **RealQ - formerly Liquidnet Fixed Income** — Former fixed-income business rebranded in June 2026, combining Liquidnet credit execution and buy-side workflows with Neptune Networks dealer data.

## Achievements

- Launched its US institutional network with 38 member firms in 2001.
- Reached its 200th member firm in 2004, according to the company timeline.
- Introduced SuperBlock in 2024 and SuperBlock TI in October 2026.
- TP ICAP reported £56 million adjusted EBIT and a 15.3% adjusted EBIT margin for its Liquidnet division in FY2025.

## Latest updates

- **2026-10** — October 6: announced SuperBlock TI, extending targeted invitations to exceptionally large block orders.
- **2026-09** — September 17: introduced Meridian, a named proposition for its institutional algorithmic execution capabilities.
- **2026-07** — July 28: announced enhanced equity trading access in Brazil and Mexico.
- **2026-06** — June 8: TP ICAP introduced RealQ, the new brand combining Liquidnet Fixed Income’s execution platform with Neptune Networks dealer data.

## Links

- Website: https://www.liquidnet.com/
- LinkedIn: https://www.linkedin.com/company/liquidnet/
- Twitter/X: https://x.com/Liquidnet
- Instagram: https://www.instagram.com/liquidnetlife/
- Facebook: https://www.facebook.com/liquidnetforgood/

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Profile page: https://yespress.io/liquidnet
Published by YesPress — https://yespress.io
Last updated: 2026-10-24