SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P. Morgan and BNP Paribas, today reported record trading volumes in January and compound growth of 33 percent following its migration to NYSE Euronext’s Universal Trading Platform on Nov. 23, 2009.
SmartPool’s matched volume of 310 million euros in January represents compound growth of 33 percent since the end of November, making SmartPool one of the fastest growing multilateral trading facilities (MTFs) over the period, according to the release. The number of trades also increased by 51 percent compound to over 47,000 in January.
According to the Thomson Reuters Equity Market Share Service, SmartPool reported dark market share highs of 8.1 percent of MSCI EMU Large Cap Index and 7.1 percent of the Dow Jones STOXX 600 on Jan. 13th, with an average dark market share of 2.9 percent during January.
While making strong market share gains in the major European blue-chip indices, SmartPool also achieved significant inroads into the Nordic region, said the release. Key dark market share highlights over the period, include: 8.8 market share in Nasdaq OMX Copenhagen 20 Index; 4.6 percent market share in Nasdaq OMX Helsinki 25; 4.5 percent market share in the Nasdaq OMX Stockholm 30 Index.
“We are very pleased with our trading volumes and the progress we have made since November 2009, when we announced a number of enhancements to the SmartPool value proposition,” stated Lee Hodgkinson, SmartPool CEO in the release. “Ourmigration to NYSE Euronext’s Universal Trading Platform, the absorption of NYFIX Euro Millennium, our growing community of users and our expansion into the small and mid-cap space all have converted to create significant momentum for our business,” said Hodgkinson. “With liquidity in the pool is building and a number of new customers scheduled to onboard in the coming months,” Hodgkinson said SmartPool would “look forward to working in partnership with customers and service partners on further innovation and volume growth during 2010.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio