NZX outlines plans to bolster fast-growing dark pool
Since launching one year ago, NZX’s dark book has 5.5% of the exchange’s total turnover, and price improvement per trade on average is 11 basis points, but the exchange has more in store.
In June 2024, New Zealand’s Exchange (NZX) launched NZX Dark, the exchange’s first midpoint order book, to provide trading participants an alternative to its other two venues—its central limit order book, NZX Central, and off-market trade reporting.
Brandon Tai, head of secondary markets development at NZX, tells WatersTechnology that plans to launch a midpoint order book began just under two years ago, in an effort to drive more trades on-market in New Zealand.
NZX is relatively small, with a
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