SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P. Morgan and BNP Paribas, had record trading volumes in January and compound growth following its migration to NYSE Euronext’s Universal Trading Platform on 23 November 2009.
SmartPool’s matched volume of EUR310m in January represents compound growth of 33 per cent since the end of November, making SmartPool one of the fastest-growing dark multilateral trading facilities over the period.
The number of trades also increased by 51 per cent compound to over 47,000 in January.
According to the Thomson Reuters Equity Market Share Service, SmartPool reported dark market share highs of 8.1 per cent of MSCI EMU Large Cap Index and 7.1 per cent of the Dow Jones Stoxx 600 on 13 January, with an average dark market share of 2.9 per cent during January.
In addition to strong market share gains in the major European blue-chip indices, SmartPool also made significant inroads into the Nordic region.
Key dark market share highlights over this period include: 8.8 per cent market share in Nasdaq OMX Copenhagen 20 Index; 4.6 per cent market share in Nasdaq OMX Helsinki 25; and 4.5 per cent market share in the Nasdaq OMX Stockholm 30 Index.
Lee Hodgkinson, SmartPool chief executive, says: “We are very pleased with our trading volumes and the progress we have made since November 2009, when we announced a number of enhancements to the SmartPool value proposition. Our migration to NYSE Euronext’s Universal Trading Platform, the absorption of Nyfix Euro Millennium, our growing community of users and our expansion into the small and mid-cap space all have converged to create significant momentum for our business.
“With liquidity in the pool building and a number of new customers scheduled to onboard in the coming months, we look forward to working in partnership with our customers and service partners on further innovation and volume growth during 2010."
