Some of Europe’s largest multilateral trading facilities (MTFs) have called for a quick resolution to the regulatory confusion surrounding non-displayed trading functionality and criticised the restrictions imposed by the current regime.
Agency brokerage and software vendor ITG has launched POSIT Marketplace in the US, which combines the flow in three of its non-displayed offerings with liquidity from external dark pools.
NEURO Dark, the new dark pool from pan-European MTF Nasdaq OMX Europe, may become the first equities trading venue to use a consolidated European best bid and offer as a reference price rather than a primary exchange price benchmark.
Nasdaq OMX Europe, the multilateral trading facility (MTF) owned by exchange group Nasdaq OMX, is planning to launch a pan-European dark pool, called NEURO Dark, on 27 April.
US equities block trading platform Pipeline is planning to start trading across Europe from Q2 this year. The firm is in the final stages of the authorisation process for its new European platform with the Financial Services Authority, the UK’s financial regulator.
Global buy-side crossing network Liquidnet has started offering its members trading in global depository receipts (GDRs) listed on the Luxembourg Stock Exchange.
The results of February’s theTRADEnews.com poll reveal that 72% of readers will make greater use of dark liquidity this year. But volatility and reduced trade sizes mean traders will have to be more wary about how they use this increasingly important liquidity source.
Euro Millennium, the pan-European dark pool for equities trading, has been asked by the UK’s financial regulator to make modifications to its functionality, according to a statement by parent company NYFIX, the US-based trading solutions vendor.