NEURO Dark

From MarketsWiki
Jump to: navigation, search
FTSE Russell banner 2016.gif
NEURO Dark
Founded May 2009
Headquarters Europe
Products Defunct Dark pool

NEURO Dark was a dark pool launched by NASDAQ OMX Europe in May 2009. Both NEURO Dark and NASDAQ OMX Europe closed in May 2010.[1]

According to Thomson Reuters, NEURO Dark traded 1.01% of the European dark market in March 2010, a month before its closing.[2]

Background

The dark pool offered about 800 of the most actively traded European blue-chip stocks.[3]

NEURO Dark was a reference price system based on best bid and offer prices. The platform used a reference price waiver to exempt it from publishing pre-trade data under MiFID, allowing it to trade dark orders of any size.[4] The platform offered an internalized order type, which allowed members to effectively execute against their own internal order flow. Members were able to choose either to interact only with internal flow, or to cross with internal flow first and execute any unmatched portion of the order in the main dark pool.[5]

References

  1. NASDAQ OMX Europe Announces Launch of NEURO Dark. NASDAQ OMX.
  2. Nasdaq OMX to close pan-European equity MTF. The Trade News.
  3. Nasdaq OMX Follows Rivals in Starting European ‘Dark Pool’. Bloomberg.
  4. NASDAQ OMX Europe Announces Launch of New Dark Pool Platform. MSNBC.
  5. Nasdaq OMX dark pool may use pan-European price reference. The Trade News.