Spoiled for choice?
Rapid changes in the equity trading environment over the past six months have found an eloquent response in the buy-side’s shifting preferences for certain trading tools and techniques over others.
Tag: Dark pools
Are you blind-tasting in a dark pool?
Increased choice is a blessing or a curse, depending on your quality of information. Without the ability to analyse the merits of rival products, the consumer is blind and bewildered by the options placed in front of him. Similarly, as buy-side traders begin to place a higher proportion of their orders in dark pools, they are also increasing their due diligence to deploy effectively the breadth of channels available to them.
How long to leave an order in the dark?
The period of extreme volatility experienced by the global equity markets in Q4 2008 accentuated a dilemma habitually faced by buy-side traders that access liquidity via dark pools.
Dark trading doubles in US despite volatility – Rosenblatt
US dark pool trading more than doubled in 2008, according to an analysis by boutique agency brokerage Rosenblatt Securities.
NYBX bids to take block trading out of the dark
US-based exchange operator NYSE Euronext and BIDS Trading, a broker-dealer and alternative trading system operator, hope to revolutionise block trading in the US with the New York Block Exchange (NYBX), their new dark pool joint venture.
Smartpool link reflects Instinet’s open door policy
Instinet Europe, the European arm of the agency brokerage owned by Japan’s Nomura Holdings, has connected to Smartpool, the non-displayed multilateral trading facility from exchange group NYSE Euronext.
Broker OTC venues create uneven playing field, say exchanges
Broker-owned crossing engines have gained an unfair competitive advantage over traditional exchanges, according to exchange groups’ responses to a call by the Committee of European Securities Regulators (CESR) for evidence on MiFID’s impact on Europe’s secondary markets.
NYSE and BIDS block trading venture approved by SEC
NYSE Euronext, the global exchanges group, and BIDS Holdings, a broker-dealer and alternative trading system operator, have received approval from the Securities and Exchange Commission to launch a new block trading venue.
Tora Compass provides access to Merrill Lynch dark pool
Buy-side clients of Tora Compass, an electronic trading platform for Asia, are now able to gain direct access to Merrill Lynch’s liquidity pool MLXN. The pool recently added access to liquidity for Hong Kong and Japan, and offers complete anonymity and full automation.
UPDATE: Turquoise to aggregate broker dark pools only
Equity trading platform Turquoise will introduce a pan-European dark pool aggregation service in the first quarter of 2009, subject to regulatory approval, but only intends to connect broker-backed dark pools.