Liquidnet adds targeted invitations to the search for very large block trades

Liquidnet’s SuperBlock Targeted Invitations extends its large-block service with a controlled search for counterparties. The workflow, introduced in reporting on 6 October, lets an institution choose whom to approach and ties each invitation to a live client order in Liquidnet’s pool.[3][4][1]

In Anna Lyudvig’s Traders Magazine interview, Liquidnet’s Chris Jackson describes control over the recipient, information and timing. Those choices address a familiar institutional problem: finding an opposite-side order of sufficient size without revealing the investment intention more widely than necessary.[2]

Selective disclosure connects the search to a real order

Public ownership information can identify a plausible counterparty, but subsequent trading and current portfolio constraints determine whether that institution can transact now. Targeted communication moves the process from a historical ownership clue toward an actual expression of interest.

Midpoint-pegged pricing supplies a reference for pricing a matched trade; it does not supply the opposing quantity. The relevant evaluation therefore combines the information disclosed, the amount completed and the execution price, including what happened to any unfilled balance.

Earlier SuperBlock results provide context for the wider service

Liquidnet cites more than 1,500 SuperBlocks since the service’s 2024 launch. Its internal estimates, also reported by Traders Magazine, put savings for January 2025–June 2026 at 64.5 basis points, or $55m. Those figures concern the wider service and precede the new invitation workflow.[1][2][5]

The usefulness of such a saving estimate depends on the benchmark, the executed-order sample and the treatment of orders that did not complete. It is historical context rather than an order-specific forecast for the new feature.

The advance is a selective invitation backed by actual trading intent and delivered through established workflow channels. Its value on a desk will depend on whether that control finds a suitable match with less unnecessary disclosure and a satisfactory execution result.

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