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10-31-2009, 05:07 AM | #1 |
Avalon Senior Member
Join Date: Sep 2009
Posts: 2,375
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London Stock Exchange and Turquoise to Merge (in a couple of weeks)
This looks expansionist: dark pool trading in the UK.
The London Stock Exchange and pan European trading facility Turquoise are weeks away from a merger, according to reports. Author: Karl Flinders - Posted: 11:54 29 Oct 2009 The companies have been in talks since early this month which could lead to Turquoise merging with the London Stock Exchange's Baikal business, according to the Financial Times. Baikal, which is still in development, is what is known as a dark pool. Dark pools enable companies to carry out large block trades without reporting the prices until they are complete. It is currently using the London Stock Exchange's Tradelect core trading platform, which is currently being replaced by one from Millennium IT, which the exchange acquired recently. http://www.computerweekly.com/Articl...e-to-merge.htm In the meantime, another article - London Stock Exchange Chief Rolet Says Markets Need Dark Pools (?) http://www.bloomberg.com/apps/news?p...d=aiM1oiuXrQBw Oct. 29 (Bloomberg) -- Xavier Rolet, chief executive officer of London Stock Exchange Group Plc, said so-called dark pool trading systems that are being scrutinized by U.S. and European regulators contribute to the stability of markets. The pools, which allow participants to trade securities off-exchange without disclosing their identities, are necessary to prevent volatility caused by large movements of assets, Rolet said in an interview in London yesterday.... U.S., European and U.K. regulators are examining dark pools as they respond to the worst financial crisis since the Great Depression. The U.S. Securities and Exchange Commission proposed rules on Oct. 21 that would require dark pools to publicly report some bids once they handle 0.25 percent of a stock’s average daily volume. Electronic networks in the U.S. usually shut down trading in a security when they approach the existing 5 percent limit. Brokers such as Goldman Sachs Group Inc. operate dark pools for their clients, as do European bourses including the LSE, Europe’s oldest independent exchange, NYSE Euronext and Deutsche Boerse AG. The LSE started its Baikal dark pool service in June and plans to start matching orders later this year. |
12-14-2009, 07:25 AM | #2 |
Avalon Senior Member
Join Date: Dec 2009
Posts: 1
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Re: London Stock Exchange and Turquoise to Merge (in a couple of weeks)
A stock exchange is a mutual organization which provides "trading" facilities for stock brokers and traders, to trade stocks and other securities
Stock Exchange |
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