James Baxter is Head of Global Buy-Side Sales at LiquidityBook.
What were the key theme(s) for your business in 2023?
In Q1, we announced an “EMEA in Focus” initiative, and we expanded that to a global focus over the course of the year. Fueled by new client acquisitions, user growth at existing clients, and a strategic expansion of LBX Connect–the firm’s proprietary FIX network–in EMEA and around the world, this initiative sought to solidify LiquidityBook’s global presence and stay competitive by activating our potential. We made strategic hires based in Europe, including shifting some important roles into the region, and added a new office in Hong Kong via strategic acquisition. Today, more than 25% of LBX Connect destinations route to EMEA and more than 1,600 total destinations are available globally supporting equities, options, futures, FX, derivatives, swaps and several other asset classes.
What was the highlight of 2023?
LiquidityBook’s highlight of 2023 was two-fold: our acquisition of Messer Financial Software, a boutique provider renowned for its multi-asset financing automation and reconciliation capabilities, and our launch of LBX PMS 2.0, our newly enhanced Portfolio Management and Accounting System. By bringing on Bryan Messer and his team, we’ve also added a Hong Kong office, enabling even more localized support and delivery.
Thanks to our shared vision for open architectures, the integration of our software was complete before the acquisition. This meant that LiquidityBook was able to launch LBX PMS 2.0 with accounting and reconciliation workflows woven into both the LBX Buy-Side and LBX Sell-Side products, as well as full ABOR/IBOR, AUM, shadow NAV, and financing automation for products such as swaps and a variety of credit instruments.
Altogether, this has elevated the LBX suite to the definitive Portfolio, Order and Execution Management System (POEMS) with an embedded FIX network, while maintaining the firm’s trademark modularity. This means our clients can continue to utilize any or all components of the stack, while it remains open to integrate third-party and in-house technology.
More broadly, the acquisition of Messer and the launch of LBX PMS 2.0 are symbolic of how far LiquidityBook has come since our founding in 2005, and we’re excited to head into 2024.
What are your expectations for 2024?
Over the past year, LiquidityBook made strategic hires and forged new partnerships to create unique value for our clients. Key hires included Twitter alumni Cavin Woo (Principal Software Engineer) and Can Envarli (VP of Engineering), both of whom are contributing to the company’s UI/UX and AI product initiatives, and strategic partnerships with companies such as ICE, BondCliQ, Spacetime.io, OptimX and Trade Cycle, bringing even more to the table for our mutual clients.
In 2024, LiquidityBook plans to continue this strong momentum, making new strategic hires and forging partnerships with innovative firms, while continuing to deliver value across our entire spectrum of solutions.
