dark pools

Latest Headlines

Latest Headlines

Dark pool probe extends to five more firms

Less than two months after N.Y. Attorney General Eric Schneiderman levied charges against Barclays that it deliberately misled investors in its dark pool, regulators are reportedly looking into operations at five more investment banks. No specific allegations have been revealed, but several firms have confirmed that either Schneiderman's office or another agency is investigating their practices.

MiFID II's efforts to shine light on dark pools

The EU's new Markets in Financial Instruments Directive, known as MiFID II, promises to reform many aspects of the securities industry in Europe, from high frequency trading to derivatives and commodities trading. But one portion of the legislation that might be getting the most mixed reviews is MiFID II's restrictions on dark pools.

The near-term future of dark pools

For many buy-side players, dark pools were an important piece of the trading tapestry, a respite in some ways to the perceived predatory practices of high frequency traders. To be sure, even as the...

Former NYSE CEO: dark pools should be closed

The market structure debate has been vexing for many, none more so than the traditional exchanges, notably the NYSE and Nasdaq. They of course have seen their market share wither in the face of broker-owned dark pools, the very brokers that are regulated by the exchange SROs. A frustrating status quo indeed.

Dark pool reporting rule may not be easy to implement

People seem resigned to some sort of  reporting rule regarding trade executions in dark venues. But the devils when it comes to market structure regulations are always in the details. And it wouldn't be surprising if the reporting requirement ended up being hugely controversial, one that may not become law as soon as some think.

Competition + Fragmentation = Regulation

A new regulation requiring  dark pools to disclose their trading volumes is rumored to be about to be released, and  it seems almost welcome. The two traders quoted in the  article  basically say there will be some questions about the specifics of disclosures (frequency, etc.) but the rule "will pass."

FINRA may propose new rule for dark pools next month

The Financial Industry Regulatory Authority is looking to shed light on dark pools and its first draft of a proposed new rule could be released in October or November. The rule would require dark pools to report their trading volume and would establish some uniformity in how the trading volume is reported.

The exchange vs. dark pools over SROs

n an era of weak volume, the stakes have risen in the great battle pitting exchanges companies against broker dealers, that is, traditional exchanges against broker-owned dark pools and ATSs.  The latest manifestation of the acrimony is the move by broker dealers to force the SEC to make some structural change regarding the SROs run by the exchanges. The broker dealers would like nothing more than to see the exchange's SRO status revoked.

New York Block Exchange gets rolling

The rise of the New York Block Exchange stands at the thriving intersection of several trends: the decline of block trades, the decline of floor-based trading at the Big Board, the rise of algorithms, the rise of dark pools, and so on.

US exchanges demand at-trade rule to drain dark pools

The heads of the three major U.S. stock exchanges are taking off the gloves.