Goldman Sachs’ newly-launched Sigma X dark liquidity pool in Australia has seen a reduction in market impact costs by up to 30%, with estimated cost savings rising above 40% for small and mid-cap names.
Block trading network Liquidnet claimed its partnership with SIX Swiss Exchange made it one of the largest dark pools for Swiss equities in February, with turnover on the SIX Swiss Liquidnet Service reaching €970 million.
Citi Cross, a new US crossing network being built by Citi, will be made available in beta form to external clients towards the end of April, the bank has confirmed.
Recognition is growing in Asia of dark pools as a source of improved execution performance, but the fragmentation of the region’s markets will continue to pose hurdles to their growth, believe market participants.
In a market where block trading is the norm, global institutional trading network Liquidnet has experienced record volumes, while the national exchange’s venue falters.
Agency broker Instinet’s BlockMatch dark pool has added a consolidated pan-European price feed as it reference point for matching trades and now offers buy-side clients more flexibility on the price at which their trades are executed.
Agency broker Instinet has extended its VWAP Cross functionality to Hong Kong and Europe, which it claims will help buy-side traders improve execution performance and better manage fast-moving markets.
Block trading venue operator Liquidnet has announced that Patrick Young has joined its European business as a non-executive director.
Marcus Hooper has stepped down from his position as executive director and head of Europe at block trading facility Aritas, as the firm seeks to reposition its offering in the region.