NASDAQ OMX To Offer NEURO Dark For All Order Sizes

NASDAQ OMX Europe intends to launch a new pan European Dark Pool, NEURO Dark. NEURO Dark will be a reference price system based on Best Bid and Offer prices and will offer similar functionality to that of NASDAQ OMX Europe.

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NASDAQ OMX Europe intends to launch a new pan-European Dark Pool, NEURO Dark. NEURO Dark will be a reference price system based on Best Bid and Offer prices and will offer similar functionality to that of NASDAQ OMX Europe.

NEURO Dark will have smart order routing functionality, while providing a low-cost marketplace for non-displayed liquidity. The platform will use the same proven INET technology employed by NASDAQ OMX Europe, by matching orders in the dark pool and routing unexecuted orders to other non-displayed MTFs. NEURO Dark will also offer firms the ability to enter an internalised order type.

NASDAQ OMX Europe plans to open NEURO Dark on 27 April and at launch will trade approximately 800 of the most actively traded European blue chip shares.

“We recognise customer demand for a non-displayed marketplace that is not limited to block or large in scale orders,” says Charlotte Crosswell, president, NASDAQ OMX Europe. “We are responding by offering a dark pool for all order sizes, one that can take advantage of existing order routing functionality.”

L.D.

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