JPMORGAN BACKS NYSE EURONEXT’S SMARTPOOL MTF
Posted September 30, 2008
PARIS – JPMorgan has joined NYSE Euronext, BNP Paribas and HSBC as the fourth partner in SmartPool, the new multi-lateral trading facility (MTF) offering block trading in dark pools for European stocks.
“In partnering in SmartPool, JPMorgan recognizes
the growth and importance of block trading in providing enhanced
execution quality for our clients,” says Lee Cook, Head of Cash Equities
EMEA, JPMorgan. “Current market trends towards smaller execution sizes
on central order books, and increasing market fragmentation re-enforces
the need for these venues as
SmartPool is currently in testing with its clients as well as both clearing partners LCH.Clearnet and EuroCCP. By the end of this month, the trading platform will have been fully tested and SmartPool will start its soft launch in November in order to offer trading in all 14 European markets to a large client base before the end of the year.
“We are delighted that JPMorgan is joining as a partner in SmartPool, the first European exchange-led ‘dark liquidity pool’ in an advanced state of readiness,” says Roland Bellegarde, Group Executive Vice President and Head of European Execution at NYSE Euronext. “In the intensely competitive European landscape, NYSE Euronext is committed to offering its customers a comprehensive and complete offering.”