21 August 2017
visit www.avoka.com

Nasdaq OMX Europe makes order routing upgrades

06 July 2009  |  657 views  |  0 Source: Nasdaq OMX Europe

Nasdaq OMX Europe today announced that it will provide order routing functionality to non-displayed markets from its "lit" (displayed) book, including routing to Neuro Dark.

This new functionality will also enable order routing directly from NEURO Dark to other non-displayed markets and provide participants with greater opportunity for execution across multiple pools of non-displayed liquidity.

In addition, NEURO Dark will now use the European Best Bid and Offer (EBBO)* as the reference price -- the price used to determine what price a security should execute. Using the EBBO will provide greater opportunity for price improvement within NEURO Dark by including the quotes from alternative venues, such as MTFs and exchanges.

Charlotte Crosswell, President of NASDAQ OMX Europe, commented, "In this increasingly fragmented market, firms are looking for more efficient ways to access liquidity. Order routing is a key differentiator for NASDAQ OMX Europe and we are committed to providing our customers with the most effective routing strategies. Extending our routing offering to dark pools will mean that customers can now gain access to both lit and dark venues through one single connection, greatly improving their ability to seek out new liquidity."

NEURO Dark currently trades approximately 900 of the most actively traded European blue chip shares.

The new functionality is due to go live in July, subject to the conclusion of ongoing discussions with the FSA.

* EBBO pricing is determined by the best bid and offer price available on the primary markets or MTFs.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.vasco.comdownload the paper now

Who is commenting?

A Finextra member Finextra Member Commented on: Real-time payments in...
A Finextra member Finextra Member Commented on: Barclays uses sensors...

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
11361 views comments | 26 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
9568 views comments | 22 tweets | 29 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
9427 views 0 | 5 tweets | 1 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
9179 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
9101 views comments | 10 tweets | 8 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job