SmartPool Expands into European Mid-Cap Trading

SmartPool has announced it will expand trading to include pan-European mid-cap securities beginning in September.

The dark pool created by NYSE Euronext in partnership with HSBC, JP Morgan and BNP Paribas will expand its trading universe to include all constituents of the U.K’s FTSE 250, Italy’s FTSE Italia Mid Cap, The U.S.’ Mid cap constituents of the Dow Jones STOXX 600, Germany’s MDAX and Switzerland’ SMIM.

Trades will be cleared via LCH.Clearnet for Euronext listed stocks and EuroCCP for other European markets. The existing blue chip range of securities will be expanded to reflect leading indices of the 15 European equity markets traded in the dark pool, including securities listed on the 4 NYSE Euronext markets.

In a statement, Lee Hodgkinson, CEO of SmartPool, said, “The SmartPool value proposition is especially relevant for transactions in securities where liquidity is scarce and implicit execution costs tend to be higher. Our expansion into offering mid-caps across Europe will be of great value to customers who wish to trade less liquid securities in a non-displayed environment”