SmartPool expands Pan-European Mid-Cap Service following successful launch

SmartPool expands pan-European mid-cap service following successful launch



SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P.Morgan and BNP Paribas, today announced the expansion of its pan-European mid cap service.

From January 2010 the SmartPool product universe will be expanded to include the constituents of the following European indices:

  • FTSE All Share Index (UK)
  • CDAX Index (Germany)
  • AEX All Share (Dutch)
  • CAC All Share (French)

As a result of this expansion, the total number of securities traded on SmartPool will increase by 110%.

Launched in February 2009, SmartPool offers trading in the leading indices of the 15 European equity markets traded on SmartPool, including securities listed on the 4 NYSE Euronext markets. SmartPool expanded its dark order book in September 2009 to include a pan-European mid-cap segment.

Lee Hodgkinson, CEO of SmartPool commented: “Our expansion into offering mid-caps across Europe is proving to be of great value to customers. By capturing a diverse pool of liquidity, users of SmartPool regularly achieve price improvement of between 4 to 6 basis points. For smaller securities where liquidity is scarce and implicit execution costs tend to be higher even greater efficiencies can be achieved. During November 2009, for example, over 30% of trading on SmartPool took place outside the leading European blue-chips.”