Neonet (STO:NEO), a leading global provider of execution services and trading technology, enhances its dark offering by launching Neonet Dark, a dark liquidity consolidating algorithm.
The dark algorithm minimizes market impact by finding dark liquidity in available dark pools through Neonet's liquidity network. Neonet Dark systematically sweeps the dark pools for non-displayed liquidity.
"The development of Europe's market structure has driven the demand for a new generation of algorithms that can provide access to non-displayed liquidity. Neonet Dark gives our customers the ability to seek liquidity in multiple dark pools by sending one consolidated order. Access to all significant pools of liquidity is essential for our clients and therefore we continue to develop and provide solutions that facilitate access to both lit and dark liquidity", says Simon Nathanson, CEO and President of Neonet.
Neonet Dark is the most recent addition to Neonet's comprehensive suite of solutions for electronic execution on the world's leading exchanges and trading venues. Along with other trading tools and services, Neonet Dark is immediately available in the company's Execution Management System, Neonet Trader.
Neonet offers access to dark liquidity on seven venues including BATS Europe Dark Pool, Chi-Delta (Chi-X), Irish Stock Exchange, Neuro Dark (Nasdaq OMX Europe), Smart Pool (Euronext), Turquoise's Dark Pool and Xetra Mid Point (Deutsche Börse). Additional venues will be added going forward.
Dark Pools A Dark Pool is an electronic market place that gives institutional investors the possibility to trade large number of shares in liquid or illiquid stocks without revealing themselves to the lit market.