Crossing Networks & Dark Pools Archive

Pipeline Financial Group, an operator of equity block trading venues in the US and Europe, has appointed Richard Gray as senior salesperson for its European operations as it moves ahead with its launch schedule in the region. read more>

Buy-side dark crossing network Liquidnet’s total principal traded in Europe in Q2 2009 was £13.38 billion, a 30% increase over Q1 and a 21% year-on-year rise. The figure equates to an average daily principal traded of £219.3 million. read more>

The London Stock Exchange (LSE) said it is on track to launch the smart order routing function of its Baikal dark pool and liquidity aggregation service this week following regulatory approval by the UK Financial Services Authority (FSA). read more>

BATS Europe, the pan-European multilateral trading facility (MTF) owned by US exchange BATS, is planning to launch a dark pool in August. read more>

Pan-European multilateral trading facility (MTF) Turquoise has named the first six brokers that will participate in its dark liquidity aggregation scheme, to be launched in July. read more>

Pan-European dark pool NYFIX Euro Millennium has reported that average daily traded value on its platform increased 70% to almost €82 million in May 2009 from around €48 million in December 2008. read more>

Goldman Sachs’ calls for US dark pools to adopt a standard system for publishing trade volumes has been met with a lukewarm response from some independent crossing networks. read more>

Broker-dealer Goldman Sachs has announced that, starting June 2009, it will report all volumes traded in its SIGMA X dark pool on a single-counted basis rather than counting each side of a trade separately. read more>

While conventional wisdom suggests that the US equity market is already too fragmented, making consolidation inevitable, more trading venues are on the way, according to Larry Tabb, founder and CEO of research and consulting firm TABB Group. read more>

Agency brokerage Instinet has added new functionality to its two Japanese crossing networks. Instinet Japan has added a second pre-open VWAP cross to its JapanCrossing dark pool and a new Iceberg order type to CBX ASIA, the firm’s displayed liquidity pool for Japanese and Hong Kong equities. ? read more>