Dark Pools & Liquidity

Latest Headlines

Latest Headlines

Liquidnet launches bond market dark pool with 120 asset managers on board

Liquidnet, a company long known for its equity market dark pool, announced that it has officially launched a bond market dark pool to enable asset managers to trade corporate bonds with each other in the US, Canada and Europe. The company said 120 asset managers are enrolled in the platform, representing two-thirds of the top 50 holders of US corporate bond assets under management.  

ConvergEx Group will close one of its two dark pools

As of October first, ConvergEx will have one dark pool instead of two. The company is reportedly planning to close its Vortex dark pool, keeping only its Millennium dark trading venue open, according...

Buy side-backed dark pool Luminex solidifies management structure ahead of launch

Luminex Trading & Analytics, the block trading venue backed by a consortium of large asset managers has announced its management team in preparation for its planned fourth quarter launch.

BATS plans to launch Hotspot in London with free FX trading through end of the year

When BATS Global Market's FX business Hotspot opens its new London matching engine next month it plans to offer potential customers a strong incentive to try it out: free FX trading until the end of the year.  

ITG woes signal continued scrutiny of dark pools

Investment Technology Group (ITG) ousted its chief executive of nine years this week, less than a week after announcing that was setting aside $20.3 million for a potential settlement with the Securities and Exchange Commission over past issues related to the operation of its POSIT dark pool.    

Deutsche Borse-backed Bondcube folds in crowded e-bond trading landscape

Three months after its official launch, corporate bond trading platform Bondcube has filed for liquidation, the Financial Times reported. The startup, founded in 2012, was 30 percent owned by the Deutsche Borse.

Hotspot and FXall plan limits on FX's 'Last Look' practice

In parallel announcements, Hotspot, the foreign exchange market owned by BATS Global Markets, and FXall, owned by Thomson Reuters, revealed that they will limit the FX process known as Last Look, which allows FX liquidity providers a certain amount of time to reject a trade, even after it has been hit.

ITG partners with Bondcube as intermediary for US buy side to buy side trades

Agency brokerage ITG is partnering with newly launched bond trading platform Bondcube to serve as an intermediary for buy side to buy side trades in the U.S. ITG, originally known as an operator of equity dark pools, just entered the bond trading space itself late last year with the introduction of Posit FI, the fixed-income version of its Posit equities platform.

Canadian critics of maker-taker score victory

The maker-taker model for exchange fees has long earned critics who say the model rewards high-frequency traders. In Canada those critics have scored a victory as TMX Group, the owner of the Toronto Stock Exchange, has announced plans for phased modifications to the model beginning June 1.

SEC greenlights tick-size study for small cap stocks

The Securities and Exchange Commission gave its approval late Tuesday for a long-anticipated pilot program to test whether trading stocks of small cap companies in wider increments would improve the markets for these stocks. The pilot program will start next May.