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Liquidnet, a technology-driven agency execution specialist, announced the appointment of Michael Fidance as Head of CEEMEA (Central and Eastern Europe, Middle East, and Africa) Equity Markets. Based in London and reporting to James Whitehead, Head of Trade Coverage, EMEA, Fidance will lead Liquidnet’s strategy to accelerate growth in these emerging markets by enhancing market access, local liquidity, and client engagement.
Announcement Date: July 8, 2025, London, UK.
Role: Head of CEEMEA Equity Markets, reporting to James Whitehead, EMEA Head of Trade Coverage.
Experience: Over 25 years in equity and fixed income markets, with senior roles at HSBC, State Street, CF Global Trading, EBRD, and Merrill Lynch.
Liquidnet Profile: Serves 1,000+ institutional investors across 57 markets, contributing £53M to TP ICAP’s 2024 earnings.
Market: $300B CEEMEA equities market, with 10% CAGR driven by digital trading and institutional demand.
Recent Moves: Liquidnet hired three ex-Instinet executives in June 2025 for Americas equities expansion.
Fidance’s mandate includes expanding Liquidnet’s footprint in CEEMEA by improving access to new markets, deepening liquidity, and strengthening ties with local and global asset managers. James Whitehead stated, “Michael brings extensive regional insight and a proven track record in building client-focused businesses.” Fidance’s 25+ years of experience include 14 years at HSBC in senior emerging markets roles, most recently as Head of Sales for State Street’s Execution Solutions post-acquisition of CF Global Trading, and prior positions at EBRD and Merrill Lynch.
Fidance commented, “In CEEMEA, tradeable liquidity is the single biggest variable affecting capital markets development… I truly believe we will help change the trajectory of CEEMEA equities to grow stronger and bigger than ever before.” His expertise aligns with Liquidnet’s goal to address the region’s fragmented liquidity, where 60% of trading volume is concentrated in South Africa and Saudi Arabia.
Liquidnet, founded in 2001 by Seth Merrin, connects over 1,000 institutional investors across 57 markets, managing $33T in assets. A subsidiary of TP ICAP, the world’s largest interdealer broker, Liquidnet contributed £53M to TP ICAP’s 2024 earnings. Its platform offers block trading, dark pool execution, and analytics, competing with Bloomberg Tradebook and ITG. Recent expansions include a 75% YoY increase in VWAP Cross trading and new market entries like the Philippines.
The CEEMEA equities market, valued at $300B, is growing at 10% annually, driven by digital platforms and institutional interest. Liquidnet’s technology, including its Next Gen Algo Suite and OTAS Technologies (acquired 2017), enhances execution efficiency, critical in a region where 70% of trades face liquidity challenges. Posts on X, like @FXNewsGroup1, reflect positive sentiment for Fidance’s hire as a catalyst for Liquidnet’s regional growth.
CEEMEA markets are pivotal for global investors, with 15% of MSCI Emerging Markets Index allocations tied to the region. Fidance’s appointment follows Liquidnet’s Americas hires, signaling a global push to capture the 20% rise in institutional trading volume in emerging markets. His experience at HSBC and EBRD equips him to navigate regulatory complexities, such as Saudi Arabia’s Tadawul reforms, enhancing Liquidnet’s appeal to the 80% of asset managers seeking local expertise.
Liquidnet is a leading technology-driven, agency execution specialist that intelligently connects the world’s investors to the world’s investments. Since our founding in 1999, our network has grown to include more than 1,000 institutional investors and spans 57 markets across six continents. We built Liquidnet to make global capital markets more efficient and continue to do so by adding additional participants, enabling trusted access to trading and investment opportunities, and delivering the actionable intelligence and insight that our customers need.
TP ICAP is a world-leading markets infrastructure and data solutions provider. The Group connects buyers and sellers in wholesale financial, energy and commodities markets. We are the world's largest wholesale market intermediary, with a portfolio of businesses that provide broking services, trade execution, data & analytics, and market intelligence.
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