Liquidnet, the buyside-only equities trading platform, is one of the firms that has been impacted by JP Morgan's decision to close its broker-dealer clearing business, forcing the operator to look for an alternative post-trade provider.

JP Morgan announced last week that it was to close its Broker-Dealer Services or BDS business unit, which provides clearing and middle-office services to around 100 clients. JP Morgan acquired the BDS business from Bear Stearns in 2008, and said last week it had decided to transition its clients to another firm "following a strategic review".