SmartPool launches “MatchView”

SmartPool launches “MatchView” - Liquidity Discovery Tool To Improve Visibility Of European Dark Trading

15/03/10

SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P.Morgan and BNP Paribas, announced today that it is launching a new service solution designed to help traders and other market users access, interpret and navigate the post trade data published by European dark trading venues.

Delivered in partnership with NYSE Technologies, SmartPool’s MatchView service will be powered by and fully integrated within the NYSE Technologies’ liquidity discovery service, ioinet, a fast growing provider of indications of interest (IOI) and Trade Adverts to over 350 buy-side and 150 sell-side institutions.

SmartPool MatchView will go live in Q2 2010 with data initially provided by SmartPool. Post-trade content from other European MTF dark venues will be added over the summer, subject to commercial contract. Other sources of dark OTC data will also be added.

Specifically designed to enhance liquidity discovery and to support the trading decision, the SmartPool MatchView value proposition is built around three core differentiators:

  • Real-time access to all post trade executions published by dark pool venues. Unlike competitor services offering access to aggregated dark trade data on a T+1 or greater basis, MatchView will enable traders and other market users to compare actual traded dark volumes across pools as soon as the trade is published.
  • Liquidity discovery through the provision of intelligent and intuitive analysis tools for all post trade executions published by dark pool venues. MatchView’s unique ‘Watch List’ feature for example, will pro-actively notify users on the post trade activity in specified securities, without the need to refresh or search manually.
  • Increased transparency to gain an insight into the “personality” of each pool. MatchView will offer a solution to the request for greater visibility in the dark pool space by richly presenting post trade data from both SmartPool and other dark trading facilities, at reasonable cost.

Lee Hodgkinson, SmartPool CEO commented:

“Increased competition is delivering enormous benefits to the European equity market, including lower cost and greater innovation, but these benefits have come at the expense of coherent post trade information. The opacity of post trade data is particularly problematic in the dark space, where the desire from traders as well as other market users and regulatory agencies, for increased post trade transparency is overwhelming - most recently highlighted by the report produced by Pierre Fleuriot for the French government. SmartPool MatchView offers an innovative real-time solution to meet this industry need.”

Paul Scott, Global Head Liquidity Discovery, NYSE of Technologies, said:

“The partnership between SmartPool and NYSE Technologies to create MatchView has combined our market-leading ioinet technology with the SmartPool dark data to provide clients with a unique way to monitor dark trading activity. By leveraging the powerful data analysis facilities of ioinet to filter, aggregate and visualise SmartPool dark data, clients are able to track dark trading activity like never before. "