Nomura to Roll Out Dark Pool in Hong Kong

Nomura will launch its NomuraCross (NX) dark pool in Hong Kong at the end of May after recently receiving approval for an ATS license by the Securities and Futures Commission (SFC).

The NX crossing network will start trading listed Hong Kong equities across all of its institutional order flow, including single stock work orders, program trading, electronic trading services and principal trading. Trades will automatically report to the Hong Kong Stock Exchange (HKEx) after crossing on NX.

In a company statement, Robert Laible, head of Electronic Trading Services and Program Trading Sales, Asia-Pacific at Nomura, said, “Launching NX in Hong Kong further enhances our offering to clients by delivering solutions to achieve best execution, minimizing trading costs and bolstering Nomura’s electronic trading platform in the region.”

Ross Whittaker, Product Manager for NX Asia-Pacific, added, “The NX architecture provides global-standard capabilities with components that are customized to adapt to the regulatory environment in the jurisdictions in which it operates. The process of going live in Hong Kong will clearly benefit from this strategy.”