01 October 2014

Nyse Euronext to close New York Block Exchange

11 February 2013  |  3106 views  |  0 Dead end

Nyse Euronext is shutting down its electronic block trading venue because of a lack of interest.

The New York Block Exchange (NYBX) was set up in 2009 by Nyse Euronext as a 50-50 joint venture with Bids Trading, the broker dealer-owned alternative trading system operator.

The electronic venue enabled dark orders from the Bids platform to anonymously access both the displayed and reserve liquidity of the Nyse order book.

However, in a regulatory filing Nyse Euronext says it will close the operation down at the end of February because "after years of operations the facility has not garnered enough volume to achieve critical mass and does not have strong support of customers".

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