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CA Cheuvreux launches equities MTF; locks out HFT troublemakers

16 April 2012  |  5256 views  |  0 drop of water

Crédit Agricole Cheuvreux has launched its own pan-European dark pool that will not be open to proprietary and high-frequency traders.

The Blink MTF, regulated by the UK Financial Services Authority, has begun trading in 1700 stocks across 14 European markets.

It will provide institutional investors with a haven from big bank proprietary desks and high-frequency traders, who are increasingly dominating the European market.

Ian Peacock, global head, execution services, CA Cheuvreux says the equity broker decided to register Blink as an MTF to give clients and the market "maximum transparency".

The platform is designed with a dual order-book structure and all executions are reported anonymously to Markit Boat in real-time.

"The launch of Blink brings together technological innovation with CA Cheuvreux's unique liquidity. Our proposition is very different to those of other MTFs due to the absence of proprietary and high frequency flows," says Peacock.

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