EUROPEAN BLOCK-TRADING FORUM SMARTPOOL WINS REGULATORY APPROVAL TO LAUNCH

Posted January 28, 2009

PARIS and LONDON – SmartPool, the new multi-lateral trading facility (MTF) set up by NYSE Euronext, BNP Paribas, HSBC and JPMorgan, plans to begin trading services on February 2 after receiving Financial Services Authority (FSA) approval to launch its dark pool for block trading in European stocks.

SmartPool will launch with stocks from 15 European markets, including Spain, during its first month of trading. “We are committed to drive forward innovative market structure changes in Europe,” says Roland Bellegarde, Group Executive Vice President and Head of European Execution at NYSE Euronext.

Euronext members can use a fast-track membership process to tap SmartPool by extending their existing trading access to use the platform without any additional charges.

“With the current trend for trading in smaller sizes on light books, SmartPool offers institutional order flow an alternative neutral MTF for trading block orders,” says Yvette Roozenbeek, acting CEO of SmartPool. “We plan a controlled and phased roll-out of markets and expect volumes to develop over time, particularly in current market conditions.”