Nasdaq, BATS Interested in Running Dark Pools for Banks
Both exchanges have been in contact with banks, according to reports
Banks being able to use an exchange's technology could cut down on the rising regulatory costs dark pools are facing, the articles note.
The Wall Street Journal initially reported on Nasdaq's interest in helping banks with dark pool operations. Nasdaq CEO Robert Greifeld said the exchange has been in talks with "several of the biggest banks" and plans to talk to the US Securities and Exchange Commission (SEC) about receiving permission to run dark pools, according to the story.
Reuters later reported that BATS was also interested in running dark pools for banks, according to an interview it conducted with Joseph Ratterman, chief executive of BATS.
No definite plans have been made, as both exchanges seem to be in the very early stages of talks.
In September, Anthony Malakian took a look at some of the recent events occurring in the dark pool space.
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