Brokers welcome HKEx move to tag dark-pool trades
Brokers have been asked to identify transactions that have been crossed from alternative trading systems onto Hong Kong's exchange, with a view to improving data transparency.
Alternative trading system (ATS) providers were asked, from February 1, to ‘tag’ trades they cross onto the Hong Kong exchange, to make it clear the flow in question is coming from their platforms.
The move is aimed at providing post-execution transparency and more accurate data so that the regulator and exchange can get a feel for how many trades are getting consummated in alternative liquidity pools, says Lee Porter, Hong Kong-based managing director for Asia-Pacific at Liquidnet, a…
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