Rochester,NY 8/19/2009 10:23:18 PM
NYSE Euronext, Inc. NYX SmartPool,a trading unit of NYSE Euronext said it was extending into trading mid-market capitalisation stocks.
NYSE Euronext, Inc.
SmartPool, a pan-European non-displayed trading unit of NYSE Euronext said it was extending into trading mid-market capitalisation stocks.The move comes as SmartPool, which was launched in February in partnership with HSBC (HSBA.L)(0005.HK), J.P. Morgan (JPM.N) and BNP Paribas (BNPP.PA), saw the trading activities on its platform jump by over 90 percent in the second quarter.
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The trading platform could execute bigger mid-cap orders while narrowing the spreads for price improvements by improving liquidity. Non-displayed trading platforms, or "dark pools", allow trades of a big block of shares to be carried out without displaying the size or the price before the completion. This attracts orders from institutional investors as they seek to minimize market impacts.SmartPool, one of 13 dark pools in Europe, has signed up some 14 banks and brokers.
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