Instinet Europe, an agency broker, has connected to exchange group Nasdaq OMX's non-displayed trading facility Nordic@Mid, which offers dark trading on stocks listed on cash equity markets in Copenhagen, Helsinki, Reykjavik and Stockholm.
Nordic@Mid is designed to allow trading members to minimise their trading costs by matching non-displayed orders at the midpoint of the primary market's best bid and offer. The service will be extended to include Norwegian shares during March.
Instinet Europe's institutional clients can now access Nordic@Mid via the broker's Execution Experts algorithmic suite or smart order router.
“In Europe, Instinet's SmartRouter and algorithms access more than 40 exchanges, multilateral trading facilities and broker-operated dark pools, and we are pleased to add the Nordic@Mid dark pool as the latest venue,” commented Richard Balarkas, CEO of Instinet Europe.