Nomura is to shift liquidity from its internal crossing network into a new FSA-regulated dark pool multilateral trading facility (MTF) for pan-European equities.
The investment bank says the NX MTF will go live in January and will be the first dark MTF seeded with existing liquidity from Nomura's equities franchise as opposed to funding from external sources.
Nomura expects NX to be one of the top five dark MTFs in Europe at launch.
Andrew Bowley, head of electronic trading product management, Emea, says: "NX is truly innovative as a safe place to trade. It has unique anti gaming logic in the matching engine and will be the first dark pool MTF operating with "well formed market" checks."
He says the bank is also aiming for AIM Secondary Market Registered Organisation (ASMRO) status, allowing the execution and inclusion in NX reporting of UK small cap stocks with a view to drawing blocks of inactive liquidity into the market.
Related video, Andrew Bowley talks about Nomura's dark pool.