GLMX
GLMX operates an electronic trading platform for institutional securities financing, including repo, securities lending, and total return swaps, serving 150+ global buy-side and sell-side institutions across multiple jurisdictions.
- Company typePrivate
- Founded2010
- HeadquartersPalo Alto, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What GLMX does
GLMX is an electronic securities financing trading platform, founded in 2010 and headquartered in New York with offices in Palo Alto, London, and Singapore. The company operates a registered Alternative Trading System (SEC/FINRA), CFTC Introducing Broker, MAS Recognized Market Operator (Singapore), and Australian Market License holder, providing institutional buy-side and sell-side firms with RFQ-based electronic execution across repo, securities lending, total return swaps (TRS), time deposits, CDs, and commercial paper. The platform serves 150+ major financial institutions, including 40+ sell-side dealers, hedge funds, asset managers, sovereign wealth funds, pension funds, insurance companies, money market funds, corporate treasurers, and prime brokers.
The platform was rebuilt ground-up and relaunched in January 2018 with a scalable architecture designed for rapid feature development, comprehensive data capture, and direct connectivity to multiple portfolio management systems. Core technical components include workflow automation (entity-level counterparty approvals, configurable credit and inquiry limits, pre-set haircuts), real-time analytics (counterparty flows, balances, volumes, regulatory audit trails for SFTR/MiFID II), and a flexible API layer with off-the-shelf adapters. Strategic integrations with LCH SA (European clearing), BNY Mellon Triparty (collateral settlement), FlexTrade O/EMS, and J.P. Morgan Asset Management's Morgan Money position GLMX as a connectivity layer across the institutional securities finance ecosystem. Q1 2026 platform activity reached $1.82 trillion Average Daily Volume (+44% YoY) and $4.90 trillion Average Daily Balance (+50% YoY).
GLMX's business model combines platform/SaaS fees charged to institutional participants with transaction-based fees, including published SBSEF fees on Total Return Swaps. Go-to-market is primarily direct enterprise sales supported by senior relationship managers in New York and London, complemented by embedded/OEM distribution through J.P. Morgan Morgan Money and FlexTrade, and ecosystem integrations with BNY Mellon and LCH SA. The company is privately held, venture-backed by Sutter Hill Ventures, Otter Capital, and Tippet Venture Partners, with founder Glenn Havlicek serving as CEO.
GLMX firmographics
Firmographics- Name
- GLMX
- Legal name
- GLMX Technologies, LLC
- Website
- https://glmx.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- GLMX operates an electronic trading platform for institutional securities financing, including repo, securities lending, and total return swaps, serving 150+ global buy-side and sell-side institutions across multiple jurisdictions.
- Ownership category
- akta.pro rank
GLMX industry classification
Industry- Product category
- Securities Financing Trading Technology
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities and Commodity Exchanges (5232)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Money Markets & Repo Trading Platforms (FSAFANAG)
- akta.pro secondary industries
- RFQ & Request-for-Stream Trading Platforms (FSAFANAJ), Listed Derivatives Execution Platforms (Futures/Options) (FSAFANAD)
Keywords
Where GLMX is headquartered
LocationHeadquarters
- HQ city
- Palo Alto
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
GLMX business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Platform/SaaS Fees: GLMX generates revenue through platform fees charged to institutional financial market participants (buy-side and sell-side firms) for access to its electronic securities financing trading technology. As a registered broker-dealer and ATS, the platform facilitates repo, securities lending, and other secured financing transactions. The model serves financial institutions (hedge funds, asset managers, broker-dealers, etc.) with enterprise-level pricing.
- SBSEF TRS Fees: GLMX is registered as an SBSEF (Swap Execution Facility) and charges fees on Total Return Swap (TRS) transactions executed on its platform. Regulatory filings show published TRS fee schedules.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
GLMX product offering
Product offeringCore offering
GLMX operates an electronic securities financing trading platform that enables institutional buy-side and sell-side firms to electronically negotiate and execute repurchase agreements (repo), securities lending transactions, total return swaps (TRS), and adjacent money market instruments such as time deposits, certificates of deposit, and commercial paper. The platform supports RFQ-based dealer-to-client workflows with direct API connectivity to OMS/EMS systems, triparty agents, and central clearing counterparties, serving over 150 major global financial institutions as a SEC-registered broker-dealer and Alternative Trading System.
Product overview
GLMX offers a unified platform-plus-modules architecture centered on its core electronic securities financing trading platform. The core platform enables electronic negotiation and execution of repurchase agreements (repo), securities lending, and total return swaps (TRS) between dealers and buy-side institutions. The product suite extends through modules for API connectivity, trade analytics, workflow automation, and Triparty settlement integration. The platform serves over 150 major financial institutions globally, processing trillions in daily volume across equities and fixed income securities.
Differentiator
Problem solved
Functional benefit
Products and services
- GLMX Core Platform An electronic securities financing trading platform designed by traders for traders, providing a liquidity-rich ecosystem for institutional securities financing market participants. Serves 150+ major global financial institutions including hedge funds, asset managers, broker-dealers, sovereign wealth funds, pension funds, and corporate treasurers.
- Repo Trading Electronic repurchase agreement trading technology enabling dealers and buy-side institutions to negotiate and execute repo transactions via RFQ-based dealer-to-client workflows. Supports direct connectivity to central clearing counterparties (LCH SA) and triparty agents (BNY Mellon) for settlement and clearing.
- Securities Lending Comprehensive securities lending trading technology for both equities and fixed income, offering a wide array of trading protocols for lenders and borrowers. Serves agent lenders and securities borrowers with electronic lending workflows.
- Total Return Swaps (TRS) Platform supporting total return swap transactions, enabling clients to access synthetic alternatives to repo and securities lending. GLMX is registered as a Swap Execution Facility (SBSEF) for TRS execution and publishes TRS fee schedules.
- Money Market Trading Trading solutions for money market instruments including time deposits, certificates of deposit (CDs), and commercial paper (CP), extending the proven securities financing model into adjacent short-end markets. Embedded within J.P. Morgan Morgan Money to provide institutional clients with single-point access to short-term investment instruments.
Quantifiable outcome
- Q1 2026: $1.82 trillion Average Daily Volume (+44% YoY) and $4.90 trillion Average Daily Balance (+50% YoY)
- +3 more outcomes
Companies that use GLMX
Customer profileNamed customers5 records
Segments6 records
Ideal customer profiles3 records
GLMX technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature8 records
GLMX partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered key and core.
- FlexTrade SystemskeyGLMX and FlexTrade announced a strategic collaboration enabling mutual clients to seamlessly manage repo workflow and execution between GLMX's platform and FlexTrade's FlexONE OEMS and FlexTRADER EMS solutions. The API integration provides comprehensive trade lifecycle management from order execution to post-trade compliance and reporting. A global asset manager is already live in production, with an APAC hedge fund client set to go live in Q1 2025.
- J.P. Morgan Asset ManagementcoreGLMX and J.P. Morgan Asset Management announced a strategic partnership to deliver additional short-term investment options through GLMX for Morgan Money clients. Morgan Money clients can now seamlessly access GLMX's advanced money market trading technology directly on Morgan Money, broadening short-term investment options to include money market funds, repo, time deposits, CDs, CP, and government securities. GLMX brings its $3 trillion ecosystem to J.P. Morgan's client base.
- BNY MelloncoreGLMX and BNY Mellon announced an integration allowing buy-side clients to direct repo trades at point of execution to BNY Mellon's Triparty platform. This connects BNY Mellon, the world's largest collateral manager (with $5.25 trillion Triparty liquidity pool), into GLMX's $2 trillion network. The integration addresses growing demand from clients seeking to expand BNY Mellon Triparty usage beyond Uncleared Margin segregation into repo financing.
- LCH SAcoreGLMX completed integration with LCH SA to support both Classic and Sponsored Clearing for European repo. The integration enables buy-side members to access the world's largest Euro liquidity pool while banks benefit from enhanced netting opportunities, operational efficiencies, and balance sheet relief. GLMX described this as an important step in establishing itself as the nexus of deep liquidity pools for its growing European buy- and sell-side network.
Scale indicators23 records
Recent moves7 records
Expansion highlights7 records
GLMX competitors and assessment
Company assessmentBroad incumbents
- MarketAxess: Leading electronic trading platform for fixed income securities, with growing presence in repo and emerging swap execution. Comparable to GLMX as a multi-asset electronic marketplace serving institutional buy-side and sell-side, though larger and broader in product scope.
- Tradeweb: Major electronic trading platform for institutional fixed income, derivatives, and ETFs. Directly comparable to GLMX in the institutional repo and rates trading space, with established dealer-to-client electronic workflows across global markets.
- ION Trading: Large financial technology vendor providing trading and post-trade solutions across fixed income and securities financing. Comparable to GLMX as platform infrastructure for repo and securities lending, with COO Andy Wiblin previously leading product at ION's repo/securities lending unit.
- Clearstream (Deutsche Börse): Major international central securities depository and collateral management services provider. Comparable to GLMX's BNY Mellon Triparty integration as a clearing and settlement infrastructure partner for European repo and securities financing.
- DTCC: Post-trade market infrastructure provider for the global financial services industry. Relevant to GLMX through the FICC's Fixed Income Clearing Corporation (FICC), which is central to the upcoming US Treasury clearing mandate that GLMX is positioning to serve.
Direct peers
- BrokerTec (CME Group): Electronic trading platform for repo and European government bonds, owned by CME Group. Most direct competitor to GLMX in electronic repo trading, serving similar institutional clients with comparable RFQ and CLOB workflows.
- MTS (LSEG): Electronic trading platform for European repo and fixed income markets, owned by LSEG. Direct competitor in European repo trading, particularly relevant given GLMX's LCH SA clearing integration and EMEA expansion.
- LiquidityEdge: Electronic trading platform for on-the-run US Treasuries and repo, founded by former GLMX personnel. Historically a direct competitor in electronic repo trading; Lauren Carroll previously served as General Counsel at LiquidityEdge before joining GLMX.
Emerging players
- FlexTrade Systems: Provider of multi-asset execution management systems (FlexONE OEMS, FlexTRADER EMS) integrated with GLMX. Related as a trading infrastructure partner and adjacent competitor in providing OMS/EMS connectivity for repo and securities financing workflows.
Others
- Euroclear: International central securities depository providing settlement, safekeeping, and collateral management services. Related to GLMX as clearing and triparty infrastructure that supports institutional repo and securities lending activity across European markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
GLMX social profiles
Digital presenceGLMX compliance and trust
Trust signalCompliance6 records
GLMX financial estimates
Financial estimateRevenue estimate
Valuation estimate
GLMX leadership team
Management profileNumber of profiles
Profiles6 records
GLMX funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
GLMX M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about GLMX
What does GLMX do?
GLMX operates an electronic securities financing trading platform that enables institutional buy-side and sell-side firms to electronically negotiate and execute repurchase agreements (repo), securities lending transactions, total return swaps (TRS), and adjacent money market instruments such as time deposits, certificates of deposit, and commercial paper. The platform supports RFQ-based dealer-to-client workflows with direct API connectivity to OMS/EMS systems, triparty agents, and central clearing counterparties, serving over 150 major global financial institutions as a SEC-registered broker-dealer and Alternative Trading System.
Is GLMX a public or private company?
GLMX is a private company. It is classified as venture growth investor backed and is currently operating.
When was GLMX founded?
GLMX was founded in 2010. It employs 11 to 50 people.
Where is GLMX based?
GLMX is headquartered in Palo Alto, United States, in the North America region.
How does GLMX make money?
Two revenue lines are on record. Platform/SaaS Fees are the primary driver. The others are SBSEF TRS Fees.
Who are GLMX's main competitors?
Broad incumbents on record are MarketAxess, Tradeweb, ION Trading, Clearstream (Deutsche Börse) and DTCC. Direct peers are BrokerTec (CME Group), MTS (LSEG) and LiquidityEdge. FlexTrade Systems is listed as an emerging player. Euroclear is listed as an others.
Does GLMX have an API?
Yes. GLMX provides API connectivity for customers to integrate with the platform. Flexible connectivity options include pre- and post-trade API and a growing list of off-the-shelf adapters for industry standard systems and bespoke development. The platform offers API integration allowing mutual clients to manage repo workflow and execution between GLMX and external Order/Execution Management systems. Developer documentation is at glmx.com/regulatory/sbsef-reports.
What industry is GLMX in?
GLMX's product category is Securities Financing Trading Technology. Its primary akta.pro industry code is FSAFANAG, Money Markets & Repo Trading Platforms, with a secondary code of FSAFANAJ, RFQ & Request-for-Stream Trading Platforms. Its NAICS code is 5231 and its SIC code is 6200.