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SmartPool signs up members

13 July 2009  |  4216 views  |  0 drop of water

SmartPool, the European exchange-led dark pool for block trading set up by Nyse Euronext, BNP Paribas, HSBC and JPMorgan says 14 investment firms have now signed up to the platform.

Launched in February, the SmartPool MTF offers trading in stocks from 15 European countries, including stocks listed on the four Nyse Euronext European markets.

The venue says Credit Suisse, Exane, Instinet Europe, Investment Technology Group, Knight Capital Europe, Neonet, Nomura, Oddo et Cie, RBS, Sanford C Bernstein and UBS have all recently become members.

Lee Hodgkinson, CEO, SmartPool, says: "We are delighted that so many prestigious firms have chosen SmartPool, particularly in today's challenging economic environment. As a result of their participation, activity on the platform in the second quarter of 2009 increased by over 90%."

SmartPool is one of 13 off-exchange trading venues in an increasingly crowded European market. The LSE's Baikal began a phased roll out last month after receiving regulatory approval from the FSA and Bats Europe is set to enter the fray in August.

However, the proliferation of dark pools has recently attracted the attention of European and US regulators, who are concerned about the impact of such systems on market transparency.

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