London-based corporate and institutional brokerage Oriel Securities has developed a new tool that allows institutional investors to interact with aggregated retail liquidity.
Swiss broker UBS has extended its UBS Price Improvement Network (UBS PIN) crossing service to Singapore, becoming one of a handful of off-exchange venues in the market.
Broker crossing networks face significant change under MiFID II as the latest iteration of the European directive spells out new rules for some venues but provides no real clarity on how it will treat dark pools.
US dark volumes reached a record high in April as equity market volatility fell, with pools that focus on institutional investors among those gaining, according to agency brokerage Rosenblatt Securities' monthly report.
The European Commission is currently thrashing out a new regime for broker crossing networks under the new version of MiFID, but will it take the interests of the buy-side into account?