European exchanges turn to dark trading in battle for flow
The EU’s two biggest exchanges are launching dark pools this year. The apparent change in their stances on dark trading reflects a profound shift in equities markets.
“Once is coincidence. Twice is happenstance. Three times is enemy action.” When James Bond comes face-to-face with supervillain Auric Goldfinger for the third time—captured by bodyguards in the grounds of his workshop near Lake Geneva—the gold baron greets him with these ominous words.
If Goldfinger watched equities markets as closely as spot commodities, he would probably say that the proliferation of dark pools run by European stock exchanges is more than just coincidence, too.
Dark pools—where
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