Turquoise, the European dark pool owned by the London Stock Exchange, has launched a service for trading large block orders, with liquidity provided by seven brokers out of the gate.
Wells Fargo shut its alternative trading system or dark pool on Friday due to weak demand in a crowded market that includes dozens of alternative trading venues.
Independent execution and research broker ITG is launching a dark pool algorithm that is says will help buy side investors increase fill rates in non-displayed venues while filtering out "toxic" liquidity.
Wednesday's high volatility was apparently more excitement than some trading venues are used to. Bloomberg reported that three large dark pools--those run by Goldman Sachs, Credit Suisse, and...
Barclays was back in court this week arguing for the dark pool suit against it to be thrown out based on legal interpretations of whether the statutes under which the suit was filed are applicable.
Asset management giant BlackRock outlined bold moves for fixing a "broken" corporate bond market in a Viewpoint paper posted on its website Monday afternoon. The firm also warned that the bond market's inefficiencies are being masked by low interest rates, low volatility and the effects of quantitative easing, and its underlying problems will likely come to a head when more normal market conditions return.
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.
BATS Global Markets is reportedly nearing a settlement with the Securities and Exchange Commission over allegations that its Direct Edge Holdings unit granted high-frequency traders unfair advantages. The SEC has been broadly investigating exchanges and trading venues since 2011 to determine whether some market participants have a technological edge over others.
Liquidnet won regulatory approval for its acquisition of Vega-Chi last week, and the deal is set to close Friday, the Wall Street Journal reported, enabling the company to move ahead with plans to strengthen Vega-Chi's role in the bond market.
Wall Street's main trade group set forth a proposal for reforming U.S. equity markets this week, focusing mainly on eliminating time advantages in data dissemination, reigning in the number of trading venues and eliminating or greatly reducing exchange fees that the group says are distorting pricing and executions.