Europe to review ‘dark pool’ trading
23 June 2009
Dark pools, a rapidly growing type of share trading facility, are to be reviewed by the European Commission amid signs that financial regulators are turning their attention to transparency in global equity markets.
Dark pools, a rapidly growing type of share trading facility, are to be reviewed by the European Commission amid signs that financial regulators are turning their attention to transparency in global equity markets.
The move comes on the heels of a warning last week by the US Securities and Exchange Commission over the transparency of dark pools, which allow the matching of large blocks of shares without prices being revealed until after trades are completed.
The Brussels review would now include dark pools, a spokesman for Charlie McCreevy, EU internal market commissioner, said. “We feel we have to look at this issue urgently as well, and the most appropriate way is to do it in the Mifid review,” he told the Financial Times. Mr McCreevy met Ms Schapiro last month in Washington.
© Financial Times
