NYFIX, a solutions provider for optimising trading efficiency, announced Friday that NYFIX Millennium, a ‘dark pool’ of liquidity, set a new volume record in January 2008, matching a total of over 1.2 billion shares. This volume also established a new average daily matched volume record for a month of nearly 58 million shares.
“January’s record volumes are proof that Millennium has become a great venue for finding liquidity and achieving best execution,” says Brian Carr, CEO, NYFIX Millennium. “Millennium’s volume growth is attributable to many factors, including an increase in Nasdaq-listed executions, greater participation from the buy-side, and a solid mix of institutional liquidity. We are also seeing an increasing percentage of liquidity available at the mid-point. This volume growth is evidence that the industry finds value in an independent source for mid-point pricing that minimises market impact and is open to all parties, both buy and sell-side,” he continues.
NYFIX Millennium has been ranked as the leading venue for achieving price improvement in the last two NYSE Execution Quality rankings from Celent, an independent research firm for the securities industry. Millennium also came second for price improvement in Celent’s most recent Nasdaq Execution Quality rankings, released in the fall of 2007.