Dark pools Archive

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>

Baikal, the dark pool currently in development by the London Stock Exchange (LSE), plans to offer both continuous and random periodic crossing on its order book in addition to its onward routing functionality, and is continuing its search for broker investment. read more>

French investment bank Société Générale Corporate & Investment Banking (SocGen CIB) has launched Alpha x Europe, an internal crossing engine for buy-side client order flows, in response to buy-side concerns about market fragmentation, rising trading costs, and gaming in dark pools. read more>

A more prescriptive approach to investment firms’ compliance with MiFID is expected by an increasing number of European market participants who draw parallels with the rules-based regime in the US equity markets overseen by the Securities and Exchange Commission. read more>

Trading technology firm Advent Software has linked its Moxy OMS order management system to the trading platforms offered by BIDS Trading, a US alternative trading system operator. read more>

Some of Europe’s largest multilateral trading facilities (MTFs) have called for a quick resolution to the regulatory confusion surrounding non-displayed trading functionality and criticised the restrictions imposed by the current regime. read more>

Agency brokerage and software vendor ITG has launched POSIT Marketplace in the US, which combines the flow in three of its non-displayed offerings with liquidity from external dark pools. read more>

NEURO Dark, the new dark pool from pan-European MTF Nasdaq OMX Europe, may become the first equities trading venue to use a consolidated European best bid and offer as a reference price rather than a primary exchange price benchmark. read more>

Nasdaq OMX Europe, the multilateral trading facility (MTF) owned by exchange group Nasdaq OMX, is planning to launch a pan-European dark pool, called NEURO Dark, on 27 April. read more>

US equities block trading platform Pipeline is planning to start trading across Europe from Q2 this year. The firm is in the final stages of the authorisation process for its new European platform with the Financial Services Authority, the UK’s financial regulator. read more>