Tags: investment | bank | trades

I-Banks Letting Clients Go to Competitors

Tuesday, 20 May 2008 09:15 AM EDT

NEW YORK, May 20 (Reuters) - Goldman Sachs, Morgan Stanley and UBS said on Tuesday they will allow their clients to access each other's non-displayed liquidity pools, known as dark pools, in an effort to increase chances of trading orders being filled.

The agreement will allow algorithmic trading orders from each firm to tap into the additional liquidity offered by competitors' darks pools, including Goldman Sachs' SIGMA X, the largest single-broker dark pool, Morgan Stanley's MS POOL and UBS' PIN ATS.

Dark pools now account for some 10 percent of equities trading in the United States, according to New York-based consultancy TABB Group and have proliferated as investors seek to place larger orders without showing their hand to the market and risk adverse price movements.

In a statement, Morgan Stanley's managing director of electronic trading said, "These arrangements will enable us to work with trusted industry participants to deliver the same level of confidentiality our clients have come to expect from us."

© 2024 Newsmax. All rights reserved.


FinanceNews
NEW YORK, May 20 (Reuters) - Goldman Sachs, Morgan Stanley and UBS said on Tuesday they will allow their clients to access each other's non-displayed liquidity pools, known as dark pools, in an effort to increase chances of trading orders being filled.The agreement will...
investment,bank,trades
162
2008-15-20
Tuesday, 20 May 2008 09:15 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved