Crossing Networks/Dark Pools 

Tabb Study: Unintended Consequences of Regulatory Action Top Buy Side Concern
November 19, 2009 | The risk of unintended regulatory consequences is the top market structure concern facing U.S. equity markets, according to buy side traders in Tabb Group's annual study, "Institutional Equity Trading 2009-2010: Dark Pools, Transparency and Consequences."

LCH.Clearnet Appointed Central Clearing Facility for Chi-East
November 19, 2009 | Chi-East, the joint venture between Chi-X Global and Singapore Exchange Limited, have appointed LCH.Clearnet as the central clearing facility for its pan-Asian dark trading platform which is scheduled to launch in mid-2010.

Chi-X Global Builds Out Asia-Pac Team
November 10, 2009 | Chi-X Global, the holding company for regional Chi-X market centers and the Chi-Tech solutions provider, has expanded its Asia-Pacific sales team with the addition of Christopher Brown and Raks Sondhi.

SmartPool Adds BofA Merrill Lynch and CA Cheuvreux
November 10, 2009 | European dark pool signs up three additional investment banks and expects to bring them online in coming months

Chi-X Europe Launches Chi-Delta Pricing Promotion
November 10, 2009 | Effective from today through the end of the year, Chi-Delta executions resulting from passive orders (non-IOC or FOK) will be charged 0.15 basis points, a reduction from the standard 0.3 basis points. Executions resulting from aggressive orders (IOC or FOK) will continue to be charged 0.3 basis points.

ConvergEx to Acquire NYFIX U.S. Transaction Services Business
November 09, 2009 | Acquisition Complements ConvergEx's Advanced Execution Technologies; Expands Sell-Side Client Base

Aite Group Releases European MTF Report
November 05, 2009 | Aite Group has released a new report on the impact of multilateral tracing facilities (MTFs) on the European exchange landscape.

Senate Subcommittee Questions Industry Insiders on Market Structure Issues
October 28, 2009 | Lawmakers gathered for a hearing to question industry participants and gather information on dark pools, high frequency trading, sponsored access and flash orders.


More
SEC Takes Dramatic Stance on Dark Pools with Rule Proposal October 21, 2009
Senator Schumer's Six Proposals for ATS Regulation October 21, 2009
Senator Schumer: Level Playing Field for Exchanges, Non-Exchanges October 20, 2009
Chi-X Europe Launches Chi-Velocity October 19, 2009
Nomura Releases First U.S. Equity Algos October 16, 2009
Mismi Selects OneTick Data Management Solution October 15, 2009
RealTick Adds Goldman Sachs Connection October 12, 2009
Nomura First Broker to Offered Sponsored Access to BATS Europe October 08, 2009
Instinet Plans to Launch BLX Dark Pool for Crossing Block Trades October 05, 2009
LSE In Talks to Buy Turquoise October 01, 2009
New Hide to Comply Order Type Added to Citi’s LavaFlow ECN September 22, 2009
Chi-X Canada Direct ATS Data Feed Connects To Bloomberg September 22, 2009
Chi-X Europe and Liquidnet Supernatural to Interconnect September 21, 2009
Pragma Releases Enhanced Liquidity Aggregation Tool September 21, 2009
Mahogany Partners Announces Live Trading with BlockCrossATS September 15, 2009
Chi-X Canada Increases Capacity September 09, 2009
ConvergEx Launches New Grey Order Type September 02, 2009
Chi-X Europe Allows Participants the Opportunity to Trade at No Cost August 28, 2009
Seth Merrin Examines the Pros and Cons of High Frequency Trading August 19, 2009
Ballista Offers Fee Holiday for Trade Initiators August 18, 2009
SmartPool Expands into European Mid-Cap Trading August 17, 2009
Pipeline Appoints Giustini Chicago Office Sales Director August 13, 2009
Chi-X Global, SGX Partner to Launch Asia-Pacific Dark Pool August 12, 2009
Ch-X Canada To Launch "ETF X Factor " Pricing Program August 10, 2009
Chi-X Europe Launches "Chi-Vision" Smart Liquidity Consolidation Service August 04, 2009
BATS Europe Dark Pool Launch Set July 16, 2009
Instinet Reports 42 Percent Increase in CBX Dark Pool Volume for Q2 July 14, 2009
Credit Suisse AES Launches Block Crossing in Australia July 14, 2009
SmartPool Signs Up 14 Brokers As Members of Dark Pool July 13, 2009
Baikal Receives FSA Approval, Readies for Roll out June 29, 2009
Euro Millennium Increases Average Daily Volume Over 70 Percent in ’09 June 26, 2009
Chi-X Europe Extends Trading to Portuguese Stocks June 26, 2009
SunGard Launches Assent ATS to Match Equity Orders June 21, 2009
Swift’s Securities Matching Solution Now Live June 12, 2009
Instinet Japan Enhances ATS Platforms June 10, 2009
Instinet Europe’s BlockMatch Launches Closing Cross June 10, 2009
Goldman Sachs Sees Fast Adoption of SIGMA X Hong Kong June 10, 2009
Ballista Announces Minority Investment From Four New Firms June 09, 2009
Liquidnet Partners with NYSE Euronext for Corporate Access Business June 08, 2009
Nasdaq Rolls Out Flash Orders to Market Participants As Debate Stirs June 02, 2009
Level ATS Launches SmartBlock June 02, 2009
Goldman’s SIGMA to Offer Cross-Border Routing for Canadian and US Stocks June 02, 2009
Chi-X Europe Launches Dark Pool, Chi-Delta May 26, 2009
UBS Dark Pool to Launch in Hong Kong May 19, 2009
Pipeline to Reduce Counterparty Risk via Clearing Solution May 18, 2009
Turquoise to Launch TQ Channel, Dark Pool Aggregation Service May 18, 2009
Chi-X Europe to Donate May 8 Trading Revenues to Cancer Charity May 07, 2009
Neuro Dark To Launch On May 11th May 07, 2009
Level ATS Dark Pool Is Connected With ULLINK May 05, 2009
Pipeline Acquires 3D Markets for Block Options Crossing April 23, 2009
Liquidnet Rolls Out Million Share-Plus Block Trading Strategy April 23, 2009
BATS Europe Gets Low Latency Connectivity April 22, 2009
Chi-X Europe To Launch Dark Pool April 22, 2009
Baikal Picks Fidessa to Develop Smart Order Router April 21, 2009
Fragmented Liquidity in Pan-European Securities Hinders Transparency, Best Execution April 16, 2009
CA Cheuvreux Uses Smart Trade for its European Equity Crossing Network April 07, 2009
Savvis Connects with Chi-X Canada and Turquoise MTF March 30, 2009
Instinet Europe Connects to Atrium Network March 27, 2009
NYSE Euronext Reduces Fees for Trading Pan-European Cash Markets March 24, 2009
Chi-Tech Appoints Head of European Biz Development March 19, 2009
BIDS Trading Integrates with Advent’s Moxy OMS March 19, 2009
ITG Launches Posit Marketplace March 17, 2009
Bloomberg Connects to LeveL March 17, 2009
Nasdaq OMX Europe Intends to Launch Dark Pool March 17, 2009
Hodgkinson Appointed CEO of SmartPool March 16, 2009
Chi-X Global Names New Chairman and CEO March 12, 2009
Pipeline to Bring Block Trading Competition to Europe March 11, 2009
Chi-X Europe Names Mark Howarth Interim CEO March 10, 2009
Pipeline to Launch European Trading Platform March 10, 2009
Morgan Stanley Crosses Average of 100 Million Shares a Day March 06, 2009
Sales Traders Are Back in Vogue Amid Volatile Markets March 04, 2009
NYFIX Migrates Millennium Dark Pool to HPX Architecture March 03, 2009
Goldman Sachs Launches Sigma X Liquidity Pool in Hong Kong March 02, 2009
Volatility Shakes Up Block Trading February 26, 2009
Broker-Owned Dark Pools Grab Market Share February 26, 2009
Former Senator Sununu Appointed to BNY ConvergEx Board of Managers February 26, 2009
Mixit Connects to LeveL February 24, 2009
EuroCCP To Begin Clearing Trades For Spanish Market February 24, 2009
Direct Edge Matches One Billion Shares, Edging Closer to Competition February 12, 2009
NYSE and BIDS Trading Scan for Blocks in Light and Dark Pools February 03, 2009
Bringing Back the Block: Goldman Launches X-Cross December 11, 2008
Weeden and Pragma Unveil OnePipe Plus as New Liquidity Management Solution December 08, 2008
Joseph Marchal Appointed Chi-X Asia-Pac CEO November 20, 2008
Former Lehman Exec Joins Citi as Equity Sales and Trading Tech Head November 05, 2008
Citi Sees Dark Pool Volumes Rise, Moves into Europe and Asia November 04, 2008
Kellner Shares Insight Into His New Instinet Position October 13, 2008
Goldman Sees Record Dark Pool Volumes in September October 08, 2008
New Derivative Clips Tail Risk October 02, 2008
BIDS’ Mahoney Shares Details on Joint NYSE Block Trading Venture (Video) October 02, 2008
Buy Side Order Flow Could Shift Away from Dark Pools September 29, 2008


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November 19, 2009

Crossing Networks Directory

The following is a directory of the major crossing networks, including independent players, exchange provided networks and broker-dealer ATSs. It explains each service, its customer base, how often orders are crossed, and what users can expect from the service going forward.



Wondering how much volume is being matched via dark books? These charts, care of research firm Aite Group, offer a glimpse of each venues market share--aggregating the market share of all the dark pools into one figure. There are three charts--one is each venues market share in NYSE stocks, the other is each venues share in Nasdaq stocks and the last is total market share that each venue has in combined Nasdaq stocks and NYSE listed stocks. We also have the figures from 2006 so you can compare and see the growth or contraction of the different marketplaces.

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