SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P.Morgan and BNP Paribas, reported record trading share gains in France and announced that Societe Generale Corporate & Investment Banking as the latest firm to join the European dark pool.
SmartPool cited the Thomson Reuters Equity Market Share Service, showing that during September, it had 22.9 percent dark market share in CAC40 index stocks, and 19.74 percent dark market share in Euronext 100 stocks. SmartPool offers trading in 440 French securities including the constituents of CAC40 and CAC All Share index.
Lee Hodgkinson, SmartPool CEO commented on Societe Generale joining the trading community, which already has 24 members. “Not only are we signing another major international investment bank but as one of the Top 3 brokers on the NYSE Euronext European markets, the bank further expands our reach into continental Europe as we continue to gain momentum in the region and add additional sources of liquidity to the pool.”
Stephane Loiseau, managing director, deputy global head of execution services at Societe Generale Corporate & Investment Banking, explained the bank’s reasons for joining SmartPool. “To deliver best execution to our customers we continuously monitor non-displayed trading activity in public markets across Europe to identify venues that provide accessible liquidity of the right quality and quantity. The rapid growth of volumes on SmartPool in Europe led the bank to add this venue to its algorithmic trading strategies to make that liquidity available to institutional investors.”
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