Neovest provides access to 15 'dark liquidity' pools

Neovest provides access to 15 'dark liquidity' pools

JP Morgan direct market access subsidiary Neovest has established connectivity to 15 'dark pools' of liquidity - trading networks that do not publish quotes in the open market - alongside more traditional destinations.

Furthermore, Neovest has recently launched an active trading tool that simultaneously disseminates orders to numerous 'dark' destinations, aimed at providing quick and broad access to these multiple sources of hidden liquidity.

Carl Carrie, head of electronic products, JPMorgan, says: "For the first time, on one platform, traders can quickly access both traditional electronic networks and dark pools."

Neovest currently provides access to over 100 broker destinations and a range of dark pool algorithms, including the Aqua and Arid algorithms which were launched by JPMorgan last year. Aqua is designed to trade large orders in liquid markets, whereas Arid is intended for illiquid securities, such as small cap stocks.

Last year a consortium of six Wall Street banks disclosed plans to launch Block Interest Discovery Service (Bids), an electronic platform that will provide users with access to dark liquidity pools.

More recently both ITG and Goldman Sachs have disclosed plans to launch off-exchange automated trading systems in Europe, in the expectation of tapping into fragmented sources of liquidity in the post-MiFID trading landscape.

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