Direct Edge Adds Access to Seven Dark Pools

DirectEdge has begun offering its customers access to seven major dark pools via ConnectEdge, the exchange’s high-speed, low-latency proprietary network.

By using Connect Edge to route orders directly to significant dark liquidity pools, in addition to exchange connectivity currently provided, this allows customers to eliminate the need for direct telco lines to each marketplace, thereby reducing costs.

The seven dark pools are as follows: Barclay’s Capital’s LX, Credit Suisse Crossfinder, Getco Execution Services, Goldman Sachs SIGMA X, Knight Link, Knight Match, and Level ATS.

“Low-cost access to comprehensive liquidity – both on- and off-exchange – is crucial, and it is our goal that Connect Edge customers have a high-quality, low-cost way to reach it,” commented Kevin Carrai, Direct Edge’s Head of Connectivity Services. “Adding the major dark pools to our destination venues is a logical extension of the Connect Edge value proposition, further enabling customers to control costs and maintain their competitiveness.”

Launched in 2010, Connect Edge is a high-speed, low-latency network that allows customers to access Direct Edge through multiple points of presence (PoP) by cross-connecting from within their own facility to a Connect Edge PoP. Connect Edge helps reduce costs by eliminating the need for individual telco connections to each marketplace or liquidity pool, while broadening market access and maintaining low latencies.

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