Chi-East, the pan-Asian joint venture dark pool between Singapore Exchange and exchange operator Chi-X Global, announced a 203% increase to US$71.06 million in Q3 2011 from US$23.45 million in Q2 in the value of trades matched.
The proportion of dark trading in Europe increased slightly in September despite continued high levels of volatility, according to the latest figures from Thomson Reuters Equity Market Share Reporter.
With trading costs for mid and small-cap stocks far higher than those for large cap stocks across Asia Pacific markets, the price improvement offered by dark pools for smaller stocks is driving their use by fund managers, according to new data from agency broker and financial technology supplier ITG.
Chi-East, the pan-Asian joint venture dark pool between Singapore Exchange and alternative trading platform provider Chi-X Global, has chosen data centre provider Equinix's Singapore 2 International Business Exchange as its primary data centre.
Goldman Sachs Electronic Trading has launched its Sigma X dark pool in Canada, allowing users to minimise market impact when trading Toronto Stock Exchange-listed securities.
HSBC has confirmed that StockMax Crossing, its Hong Kong dark pool, will initially be targeted at institutional and professional investors rather than retail investors as originally planned.
Huge spikes in volatility in the first two weeks of August led to a decline in the proportion of European trading executed in the dark, according to market data from multilateral trading facility BATS Europe.
Buy-side traders must get to grips with the variety of dark pool models that are now available, or risk giving away valuable information that could impair execution performance.
SIX Swiss Exchange has shut down the Swiss Block, non-displayed liquidity platform for Swiss blue-chip shares powered by SmartPool, the NYSE Euronext owned pan-European dark pool, which will now offer trading in Swiss stocks.