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Goldman Sachs, Morgan Stanley and UBS, three of the world’s biggest brokers, have granted each other reciprocal access to their respective internal crossing engines in Europe – SIGMA X, MS POOL and UBS-PIN. read more>
NEURO Dark, a European dark pool to be launched on 11 May by multilateral trading facility Nasdaq OMX Europe, will offer IOI functionality, smart routing and new 'internalisation' order types. read more>
LeveL ATS, a non-displayed trading venue for US equities, has connected to ULLINK, a connectivity network and trading software provider. read more>
Taking liquidity away from the public order book poses a threat to the buy-side’s ability to discover prices, say top investment managers at the TradeTech securities industry conference held in Paris this week. read more>
Block trading venue Pipeline Financial has completed a deal to buy the assets of US block trading options firm 3D Markets, to foster institutional block crossing for US options trades. read more>
Citi is launching Citi Match, its internal dark liquidity pool, in Europe. The system has been live in the US for the past 18 months. read more>
Baikal, the London Stock Exchange’s (LSE) non-displayed equity trading venue, will launch a smart order routing (SOR) service developed with technology vendor Fidessa before its order book goes live in June. read more>
French broking house CA Cheuvreux is planning to finalise the roll-out of its Blink internal crossing engine for European equities by the end of Q2, following its launch at the beginning of this year. read more>
Euro Millennium, the European dark pool operated by US technology vendor NYFIX, has confirmed it will change its trade matching algorithm following discussions with UK regulator the Financial Services Authority (FSA). read more>
The ability to stitch together the liquidity residing in both public dark pools and brokers’ internal crossing engines is high on many European buy-side traders’ wish lists. But while some trading venues are responding by establishing dark pool aggregation services, regulatory and commercial hurdles could hamper progress. read more>