Holy Shit! I point I made back in the May days was that a Blacknet able to accept anonymous trades would really have a major impact on the business world. Imagine getting early wind of some acquisition and then you could start trading on that? That would eliminate a lot of the bullshit 'arbitrage' such deals are often made out of, based on the rest of the world not knowing. For the deal to make sense, it could only survive on the basis of really being accretive to both companies. This can't possibly be too anonymous, though. But one wonders if clever endpoints might be able to augment Liquidnet's own anonymity a bit! -TD
From: "R.A. Hettinga" <rah@shipwright.com> To: cypherpunks@al-qaeda.net, cryptography@metzdowd.com Subject: Liquidnet: "Anonymous" institutional transactions Date: Fri, 3 Dec 2004 18:48:55 -0500
<http://www.liquidnet.com/company/>
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Liquidnet is successfully redefining institutional trading.
Launched in April 2001, Liquidnet was built exclusively for institutional trading. After only three years, we are now ranked as one of the top 14 largest NYSE institutional brokers and the 15th largest NASDAQ broker* respectively. The Liquidnet global community has grown to represent more than $6.8 trillion in equity assets under management.
Liquidnet's unique model brings natural buyers and sellers together and enables them to anonymously negotiate trades among each other, without intermediaries or information leaks. Liquidnet's institutional Members trade large blocks of small-, mid- and large-cap stocks easily, efficiently and with little to no market impact costs. The result is the industry-leading average execution size of more than 42,000 shares since inception, with 50% of all executions done at the mid-point and 92% done within the spread.
Liquidnet, Inc. is a registered broker/dealer, headquartered in New York City. Liquidnet Europe Limited is regulated by the Financial Services Authority and is headquartered in London.
* Based on Plexus Group analysis (03Q3 - 04Q2) November 29, 1999 Liquidnet Holdings, Inc. founded
January 10, 2000 Liquidnet, Inc. founded
April 10, 2001 Liquidnet launches in the United States with 38 Member firms
April 16, 2001 Liquidnet completes first week of trading with an average execution size of 86,000 shares
June 12, 2001 Liquidnet Europe Ltd. founded
October 23, 2001 Liquidnet executes its 500-millionth share
March 8, 2002 Liquidnet signs first European Member
April 4, 2002 Liquidnet executes its one-billionth share
June 3, 2002 100th Member firm goes live
August 2002 Liquidnet recognized by Plexus Group as one of the largest institutional brokers for NYSE-listed stocks
November 2002 Liquidnet recognized by Plexus Group as one of the largest institutional brokers for NASDAQ stocks
November 20, 2002 Liquidnet Europe launches, providing fund managers with access to six global markets - UK, French, German, Swiss, Dutch and US
December 31, 2002 Liquidnet ends year with 136 live Members and completes strongest quarter to date, executing 426 million shares
January 30, 2003 Liquidnet executes its two-billionth share
October 14, 2003 Liquidnet executes its largest single US equities trade to date -- 2.83 million shares.
November, 2003 Liquidnet ranked as the 5th and 10th least expensive trading venue for NYSE and Nasdaq stocks, respectively, by Elkins/McSherry.
December 16, 2003 Value traded in Liquidnet since inception reaches $100 billion.
December 22, 2003 Liquidnet breaks its single day record for US volume, executing nearly 29.5 million shares.
January, 2004 Liquidnet ranked as one of the Top 20 largest NYSE brokers in the Plexus Group universe of 1,500 brokers.
January 21, 2004
July 29, 2004
October 21, 2004
Liquidnet breaks its single day record for US volume, executing more than 30 million shares.
Liquidnet brings anonymous block trading to Canada
Liquidnet Honored as the 5th Fastest Growing Private Company in America by INC. MAGAZINE and THE fastest growing private Financial Services company.
-- ----------------- R. A. Hettinga <mailto: rah@ibuc.com> The Internet Bearer Underwriting Corporation <http://www.ibuc.com/> 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'