Dark pools of liquidity
From Wikipedia, the free encyclopedia
 |
This article does not cite any references or sources. (June 2007) Please help improve this article by adding citations to reliable sources. Unverifiable material may be challenged and removed. |
Dark pools of liquidity (also dark pools or dark liquidity) are crossing networks that provide liquidity that is not displayed on order books. This is useful for traders who wish to move large numbers of shares without revealing themselves to the open market.
Dark liquidity pools offer institutional investors many of the efficiencies associated with trading on the exchanges' public limit order books but without showing their hands to others. Dark liquidity pools avoid this risk because neither the price nor the identity of the trading company is displayed.
Contents |
[edit] Major dark pools
- Bank of New York
- BNY ConvergEx Group
[edit] Independent dark pools
- Instinet
- Investment Technology Group (ITG)
- Liquidnet
- NYFIX Millennium
- Pipeline Trading Systems
- Pulse Trading
[edit] Broker-dealer-owned dark pools
- BLOCKalert
- Citi Markets and Banking
- Credit Suisse
- Fidelity Capital Markets Services
- Goldman Sachs Execution and Clearing
- Knight Capital Group
- Lehman Brothers
- Merrill Lynch
- Morgan Stanley
- UBS Investment Bank
[edit] Consortium-owned dark pools
- BIDS Trading
- eBX LLC
[edit] Exchange-owned dark pools
- International Securities Exchange
- The NASDAQ Stock Market
- NYSE Euronext
- Direct Edge
[edit] Other dark pools
[edit] See also
[edit] External links
- Global Investment Technology, Jan. 21, 2008, "2008 Is Set to Be a Pivotal Year for Innovative Technologies to Support Trading of Large Blocks."
- "NYFIX Launches Euro Millennium Pan-European Dark Pool"
- "Big Traders Dive Into Dark Pools"
 |
This article about stock exchanges is a stub. You can help Wikipedia by expanding it. |
