SmartPool Signs Up 14 Brokers As Members of Dark Pool

New members of NYSE Euronext-led dark pool include: Credit Suisse, Exane, Instinet Europe, Investment Technology, among others.

Fourteen investment firms have become members of SmartPool, the dark pool created by NYSE Euronext in partnership with J.P. Morgan, HSBC, and BNP Paribas, according to a company release today.

Credit Suisse, Exane S.A., Instinet Europe Limited, Investment Technology Group Limited (ITG), Knight Capital Group Limited, Neonet, Nomura, Oddo et Cie, RBS/ABN Amro Bank NV, Sanford C. Bernstein Limited and UBS have become the latest clients to join the neutral exchange-led trading pool, which went live with founder members, J.P. Morgan and HSBC, according to the release.

Launched in February 2009, SmartPool operates a dark order book that offers professional intermediaries the ability to execute wholesale transactions efficiently, with minimal market impact at improved execution prices, according to the release. Open to all European market participants, the platform is particularly suited to firms specializing in electronic, program trading and block execution. LCH.Clearnet clears trades for Euronext listed stocks and EuroCCP for all other European markets traded on SmartPool. Front-end trading platforms currently available from Fidessa, SunGard and ULLINK, provide access to SmartPool.

“We are delighted that so many prestigious firms have chosen SmartPool, particularly in today’s challenging economic environment,” stated Lee Hodgkinson, CEO of SmartPool, in the release, noting that SmartPool has been rapidly acknowledged as a leading dark pool in Europe. “As a result of their participant activity on the platform in the second quarter of 2009 increased by over 90 percent,” stated Hodginkson.

SmartPool provides trading in stocks from 15 European equity markets, including stocks listed on the four NYSE Euronext markets. Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio