NYFIX Euro Millennium, a pan-European dark pool owned by electronic trading solutions provider NYFIX, has reported a new single-day matched consideration record, citing an increased level of confidence in dark pools from the buy-side.
On 12 December, the value of trades matched in the dark pool totalled €90 million through 14 million shares, up from the previous record of €63 million through 23 million shares set on 2 December. Order sizes in the pool were also reported to have increased to an average of over €100,000 per order on the latest record day.
“When we launched a lot of the initial flow was pinging flow, but now clients are instructing brokers to use dark algos and rest orders in the pool,” Chris Smith, director at NYFIX International, told theTRADEnews.com. “Clients are starting to understand the value of dark venues and the price improvement and reduced impact this can have.”