Smartpool has been approved by the FSA to start up its dark pool for block trading in European stocks.
The company launched by NYSE Euronext, BNP Paribas, HSBC and J.P. Morgan will begin its trading services on 2 February 2009.
With the current trend for trading in smaller sizes on light books, SmartPool offers institutional order flow an alternative neutral MTF for trading block orders. We plan a controlled and phased roll-out of markets and expect volumes to develop over time, particularly in current market conditions, says Yvette Roozenbeek, Acting CEO of SmartPool.
SA