SmartPool, the neutral dark liquidity pool created by NYSE Euronext in partnership with J.P. Morgan, HSBC and BNP Paribas, has added 14 investment firms as members.
SmartPool, the neutral dark liquidity pool created by NYSE Euronext in partnership with J.P. Morgan, HSBC and BNP Paribas, has added 14 investment firms as members.
Credit Suisse, Exane, Instinet Europe, Investment Technology Group, Knight Capital Europe, Neonet, Nomura, Oddo et Cie, RBS/ABN Amro Bank, Sanford C Bernstein and UBS have become the latest clients to join the exchange-led trading platform.
Launched in February 2009 with founder members J.P. Morgan and HSBC, SmartPool operates a dark order book that offers professional intermediaries the ability to execute wholesale transactions efficiently, with minimal market impact at improved execution prices.
The platform is open to all European market participants and is particularly suited to firms specialising in electronic, programme trading and block execution.
Trades are cleared via LCH.Clearnet for Euronext listed stocks and EuroCCP for all other European markets traded on SmartPool. Front-end solutions are currently available from Fidessa, SunGard and Ullink.
Lee Hodgkinson (pictured), chief executive of SmartPool, says: ‘Today’s announcement demonstrates that SmartPool is rapidly being acknowledged as a leading dark liquidity pool in Europe. We are delighted that so many prestigious firms have chosen SmartPool, particularly in today’s challenging economic environment. As a result of their participation, activity on the platform in the second quarter of 2009 increased by over 90 per cent.’
