Into the Dark Pool


Things have changed since I ventured into securities industry news a decade ago. Then it was the rise of electronic trading and the ECNs bursting on the scene. Now the proliferation of "dark pools"—non-displayed orders in the market—is reshaping the trading landscape and our vocabulary. The current usage of "dark" likely originated with the Island ECN, which in 2002 got into a tussle with the US Securities and Exchange Commission over the handling of exchange-traded funds (ETFs), and decided

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