Broking firm CA Cheuvreux has joined broker-neutral dark pool Euro Millennium, which was launched by NYFIX International earlier this year.
By connecting to Euro Millennium, CA Cheuveux believes it will be able to increase its ability to offer buy- and sell-side clients the benefits of reduced market impact and anonymity.
Euro Millennium currently matches UK-listed equities, and will be rolling out other major European markets over the course of 2008. It is built on the same technology that powers NYFIX Millennium, the firm’s existing US dark pool.
Jerry Lees, head of alternative execution services at CA Cheuvreux, commented in a statement: “CA Cheuvreux’s strategy is to offer neutral, unbiased access to all new liquidity venues across Europe, enabling our clients to customise their smart order routing strategies to achieve their investment objectives. Euro Millennium further increases the liquidity options open to our clients.”