Tag: Crossing Networks & Dark Pools

The days of broker crossing networks could be numbered, with MiFID II sure to impose restrictions on how they operate. But such limitations could have a major impact on the buy-side's execution performance.

Dark pool operators must inspire long-term loyalty through differentiated service, or risk being eclipsed by new, innovative platforms, recent shifts in the market share of Europe’s dark multilateral trading facilities suggest.

UBS is adding a secondary pool to its Price Improvement Network in Asia-Pacific so that institutional clients can choose what kind of flow they want to interact with in its internal crossing platforms.

Pan-European multilateral trading facility Quote MTF is to launch a new venue in June that lets participants select counterparties based on trading behaviour.

Amid strong quarterly growth figures for block trading venue Liquidnet, the firm’s Australian operations have outpaced much of the group, thriving in a new regulatory environment and competitive market.

A new dark pool launched today by CA Cheuvreux will aim to alleviate buy-side “anxiety” about high-frequency trading and offer larger trade sizes than are typically available in other venues.

Politicians are keen to inject greater transparency into equity markets by getting rid of broker crossing networks, but whether their MEPs' MiFID II proposals will yield the intended benefits remains to be seen.

High levels of off-exchange trading recorded in US equities last month reflects a decrease in the amount of buy-side commission available for execution, according to financial research firm TABB Group.

Non-displayed venues in Australia have escaped further limitations on their operations, with the nation’s regulator revealing it would not make any new rules on a minimum size threshold for dark orders until consulting further with the industry.

Agency broker Instinet has added another source to the depths of its Asian liquidity pool, broadening opportunities available to institutional investors in the region.