Global investment bank and financial services firm J.P. Morgan (New York) has joined SmartPool, the new multi-lateral trading facility (MTF) established by NYSE Euronext (New York), BNP Paribas (Paris) and HSBC (London), providing a dark pool for block trading in European stocks.
SmartPool will leverage the technology developed by NYSE Euronext and the existing connectivity that links Euronext with its main European sell-side users. SmartPool now is in testing with its clients as well as both clearing partners, LCH.Clearnet and European Central Counterparty Limited (EuroCCP), both based in London. SmartPool will start its soft launch in November in order to offer trading in all 14 European markets to a large client base before year's end.
SmartPool will offer institutional order flow a competitively-priced alternative trading venue for trading block orders of European stocks, ensuring minimal market impact on a low latency trading platform.