Electronic trading platform AX Trading Network has raised $20m in a round of venture funding.
The investors and terms of the deal are undisclosed.
The New York-based company’s network is designed to allow institutional traders to proactively connect and trade with counter parties.
AX’s aims to enable traders to reach out in a way that protects their identities and intentions at a time when liquidity is not being exposed to the market.
The firms says the financing will be used to expand its geographical footprint into Europe and Asia.
AX CEO George O’Krepkie said, “This alternative to traditional trading is increasingly demanded as an essential tool for securing liquidity and execution – especially in thinly traded issues.
“Securing this round of financing enables us to build our world class technology capability in Asia.”
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