01 April 2015

Goldman Sachs, Morgan Stanley and UBS in European dark pool pact

08 May 2009  |  9546 views  |  0 drop of water

Goldman Sachs, Morgan Stanley and UBS have agreed a deal that will allow their clients to access each bank's European dark pools.

The agreement, which follows a similar deal between the three in the US last year, covers Goldman Sachs' Sigma, Morgan Stanley's MS Pool and UBS Pin.

The arrangement is designed to combat growing fragmentation in the region by allowing algorithmic trading orders received by each firm to interact with the European equity liquidity found in their dark pools.

The decision to work together comes as competition in Europe heats up. Nasdaq OMX is set to launch its Neuro Dark pool on Monday while the LSE will enter the fray with its Baikal platform later this year and Chi-X Europe plans its own offering in the second quarter, subject to regulatory approval.

The growth in the use of dark pools by the buy side is set to grow significantly during 2009 according to a recent global survey of 590 investors undertaken by buy-side trading network Liquidnet.

In Europe, nearly three quarters (73%) of participants questioned plan to increase their use of dark pools this year, compared to 58% in Asia and 52% in North America.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

22 April, 2009
16 April, 2009
17 March, 2009
02 March, 2009
28 January, 2009
30 October, 2008
14 August, 2008
26 June, 2008
20 May, 2008

Related company news

 

Related company information

Goldman Sachs
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Europe sets the pace as fintech investment...
6413 views comments | 29 tweets | 20 linkedin
UK online banking fraud losses soar 48%
5930 views comments | 16 tweets | 19 linkedin
Future Money Focus: Mariano Belinky, Santa...
5670 views comments | 12 tweets | 12 linkedin
Google preps Gmail bill payment feature
5190 views comments | 15 tweets | 12 linkedin
Barclays and PayPal join Government ID acc...
5034 views comments | 11 tweets | 11 linkedin

Featured job

Basic £90-110K OTE c. £200K AND NO CEILING
London based with substantial travel in the DACH Region

Find your next job