Deutsche Bank today announced its SuperX European Broker Crossing System (BCS) has been recognised as the largest pool of non displayed liquidity in Europe, crossing an average of €363 million in shares a day during December 2011.
Rosenblatt Securities ranked SuperX as the largest by volume in its monthly dark pool market share index, which consists of a universe of 18 liquidity pools across Europe.
Non displayed liquidity allows institutional investors such as pension funds to trade large blocks of shares with a reduced risk of incurring market impact costs, such as price movement during a transaction. Launched in 2010, SuperX has experienced steady growth as a result of the depth of liquidity available and the popularity of Deutsche Bank's Stealth algorithm, which intelligently sources liquidity across venues including SuperX.
Andrew Morgan, Head of Autobahn Equity Europe at Deutsche Bank, said: "Demand for access to non displayed liquidity continues to grow as investors increasingly value the benefits of trading large orders with minimal market impact. SuperX offers significant depth of liquidity and this top ranking marks a key milestone in the impressive growth of the platform."
SuperX is a crossing network that allows institutional client orders to be matched against other client and internal orders. SuperX may be accessed through Autobahn algorithms, including SuperX Plus, Deutsche Bank's aggregator algorithm which enables buyers and sellers of large orders to manage their access to non displayed liquidity with real time analytics.