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SmartPool Adds BofA Merrill Lynch and CA Cheuvreux

European dark pool signs up three additional investment banks and expects to bring them online in coming months

SmartPool, the European dark liquidity pool created by NYSE Euronext with three other investment banks, has announced that three additional investment banks, including BofA Merrill Lynch and CA Cheuvreux have signed up to trade on SmartPool. The third investment bank was not named in the release.

Commenting on the expanded trading community, Lee Hodgkinson, CEO of SmartPool, said in the release, “We are looking forward to bringing these customers online in the coming months. Today’s announcement is further proof that our superior economies of scale are attracting the largest and most diverse dark pool trading community in Europe.”

Yvonne Hansmann, head of EMEA Execution Sales, BofA Merrill Lynch, stated, “The use of dark liquidity is a key facility in supporting our clients’ requirements for market leading execution. Linking to SmartPool is therefore an important complement to our overall execution strategy as they further develop their platform and in-flows.”

CA Cheuvreux’s EVP and COO Bertrand Patillet, stated, “At a time when accessing lit liquidity at the lowest implicit cost has become increasingly challenging, CA Cheuvreux is committed to providing its clients with any opportunities that ensure best execution. This is why, building on our position as one of the leading agency brokers to propose extensive access to neutral dark pools sponsored by lit MTFs or exchanges, we are now pleased to announce our connection to SmartPool.”

NYSE Euronext created SmartPool with HSBC, J.P. Morgan and BNP Paribas. SmartPool is a multilateral trading facility (MTF), which is regulated by the UK’s Financial Services Authoritiy. The other members of the SmartPool trading community include Credit Suisse, Exane SA, Instinet Europe Limited, Investment Technology Group Limited (ITG), JP Morgan, Knight Capital Europe Limited, Neonet, Nomura, Odd et Cie, RBS/ABN AMRO Bank NV, Sanford C. Bernstein Limited and UBS.

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

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