SmartPool, the neutral dark liquidity pool created by NYSE Euronext in partnership with JPMorgan, HSBC and BNP Paribas, has said that 14 major investment firms have become members of SmartPool. Credit Suisse, Exane SA, Instinet Europe, Investment Technology Group Knight Capital Europe, Neonet, Nomura, Oddo et Cie, RBS/ABN AMRO Bank, Sanford C Bernstein and UBS have all become the latest clients to join the neutral exchange-led trading platform.
Launched in February 2009, with founder members JPMorgan and HSBC, SmartPool operates a dark order book that offers professional intermediaries the ability to execute wholesale transactions with minimal market impact. The platform which is open to all European market participants is suitable to firms specialising in electronic, program trading and block execution.
Richard Semark, MD, Client Trading & Execution, UBS, said: As part of the UBS liquidity strategy we are delighted to be amongst the first to join NYSE Euronext SmartPool. We see this as a valuable addition to the displayed and non-displayed liquidity pools we access with market leading Algos such as TAP, our liquidity seeking strategy. All UBS client flow will benefit from the addition of SmartPool as a destination within our smart order router.
Rob Boardman, Head of Electronic Trading, ITG in Europe, added: “As an agency-only brokerage specializing in electronic trading our aim is to offer our users access to as many liquidity venues as possible. Therefore, it is a very natural move for us to become members of SmartPool so that our clients can benefit from additional liquidity.”
