A Drinker Biddle Team led by James Fischer, chair of the firm’s Corporate and Securities Group, advised financial technology client LiquidityEdge LLC in its sale to MarketAxess Holdings Inc., the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets. The acquisition is valued at $150 million, including $100 million in cash and $50 million in MarketAxess stock.
Headquartered in New York City, LiquidityEdge was founded in 2015 by David E. Rutter, and has been represented by Drinker Biddle since inception. LiquidityEdge offers an alternative trading model for the U.S. Treasury market with a choice of relationship-based execution models that deliver direct and order book trading access to a broad range of market participants. Clients can choose between one-to-one or many-to-many trading models, facilitating a combination of anonymous and disclosed streaming of executable prices, creating a personalized order book for each participant. LiquidityEdge is an SEC registered broker-dealer and member of FINRA.