NEW YORK--(BUSINESS WIRE)--Liquidnet, the global institutional marketplace, today announced that it is the recipient of the Committee Encouraging Corporate Philanthropy (CECP) annual Excellence Award in Corporate Philanthropy. The award is based on the following criteria: CEO leadership, innovation, measurement, and partnership. Liquidnet received the Small Company Award, which is presented to an organization with revenues of less than $3 billion.
Liquidnet donates one percent of its gross revenues on an annual basis to address social challenges through its “Liquidnet for Good” initiatives. As part of these initiatives, Liquidnet is leading the development of the Agahozo-Shalom Youth Village in Rwanda, which provides facilities to care for and educate up to 500 children left orphaned by the Rwandan genocide. The facilities include 32 group homes, a complete high school, science and computer laboratories, land for organic farming, a reforestation program, 800-capacity dining hall, counseling and medical facilities and recreational fields. Liquidnet’s goal is to create a community that will become the blueprint for success for other projects in Rwanda, and across the developing world.
Since the inception of the Village in 2006, Liquidnet has donated $6 million to the project. Liquidnet employees have also raised an additional $150,000 for the program, and more than 75% of Liquidnet’s worldwide workforce has participated in or contributed to the project. In addition to financial resources, employees and their family members have donated their time and expertise to support these efforts. Liquidnet Member firms and their employees are also active participants.
Seth Merrin, CEO of Liquidnet Holdings, states “I am very appreciative to the CECP for this recognition. Our goal in launching this initiative is to provide hope and promise to the youth of Rwanda who will represent the future for their country. We decided to act where others have not, so that we can help channel the optimism and drive that we see in the faces of so many of Rwanda’s youth into building a self sufficient community. As a global organization, we believe that it is our responsibility to make a difference, and support causes which will have a lasting impact throughout the world.”
Liquidnet is the world’s institutional marketplace that facilitates institutional equities trading for institutional investors worldwide. By giving buy-side traders a first look at a global natural liquidity pool averaging approximately 8.2 billion shares per day (for the quarter ended March 31, 2009). Liquidnet consolidates and delivers the institutional equities market directly to the desktops of 582 buy-side trading firms (as of March 31, 2009). Institutional investors use the Liquidnet marketplace to enhance the quality and speed of trade execution, gain price improvement for their trades, and, ultimately, lower overall trading costs. Launched in 2001, Liquidnet now trades in 29 equity markets across five continents. Participation in the Liquidnet marketplace is open to all market participants who can meet criteria designed to preserve the integrity of the platform. Liquidnet is headquartered in New York with offices in London, Toronto, Tokyo, Hong Kong, Sydney and Singapore. Additional company information is available online at www.liquidnet.com.
© 2009 Liquidnet Holdings, Inc. and its subsidiaries. Liquidnet, Inc. is a member of FINRA/SIPC. Liquidnet Europe Limited is regulated by the U.K. Financial Services Authority and is a member of the London Stock Exchange. Liquidnet Canada Inc. is a member of IIROC and a member of CIPF. Liquidnet Asia Limited is regulated by the Hong Kong Securities and Futures Commission as a licensed dealer and a provider of automated trading services pursuant to the Securities and Futures Ordinance and is regulated by the Monetary Authority of Singapore as a Recognised Market Operator. Liquidnet Japan Inc. is regulated by the Financial Services Agency of Japan and is a member of JSDA/JIPF. Liquidnet Australia Pty Ltd. is a licensed corporation under the Corporations Act of Australia, AFSL number 312525.