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.
Tag: Dark pools
US dark pool trading more than doubled in 2008, according to an analysis by boutique agency brokerage Rosenblatt Securities.
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.
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-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 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.
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.
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.