SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P.Morgan and BNP Paribas, today announced that Swiss securities are now available for trading on SmartPool.
The SmartPool product universe has been extended to include the constituents of the SMI Expanded® comprising of the SMI®, the 20 largest Swiss equities and the SMIM®, the 30 largest mid-cap stocks in the Swiss equity market. Trades are cleared through EuroCCP as central counterparty for all European markets traded on SmartPool.
Lee Hodgkinson, SmartPool CEO and Head of European Sales & Relationship Management, NYSE Euronext commented:
"We are delighted to announce the addition of Swiss securities to our expanding service offering. By capturing a deep and diverse liquidity pool, SmartPool users regularly achieve price improvements of between 4-6 basis points per trade in large cap securities with even greater price efficiences evidenced in mid-cap stocks - we look forward to extending these benefits to our Swiss segment."
"Brian Gallagher, Managing Director, Electronic Trading, Morgan Stanley, commented:
"We are committed to providing best execution to our clients and are constantly looking for opportunities for price improvement on all available execution venues. We are pleased to hear that SmartPool is expanding its liquidity pool through the addition of Swiss securities."