CA Cheuvreux, the equity broking business of Credit Agricole, has connected to an additional five European dark pools, bringing the total number of non-displayed trading venues it accesses on behalf of institutional investors to 20.
The French-owned broker now connects to the dark pools of four pan-European multilateral trading facilities – Chi-X’s Chi-Delta, Turquoise Mid-Point, BATS Europe’s Dark Pool and Nasdaq OMX Europe’s Neuro Dark – as well as German exchange Deutsche Borse’s dark trading capability, Xetra Mid-Point. The expansion means that CA Cheuvreux now offers access to 65 trading platforms globally.
All five new connections are to mid-point dark pools, which are generally considered to offer minimal information leakage, reduced market impact and price improvement. Direct market access connectivity is already live and CA Cheuvreux clients will be able to connect via the firm’s dark liquidity-seeking algorithm, CrossFire, by the end of November.
“The addition of these five new dark venues to our offering demonstrates CA Cheuvreux’s continued commitment to providing the greatest liquidity access, wherever this liquidity lies, through our advanced trading tools,” said Bertrand Patillet, executive vice president of CA Cheuvreux.