Credit Agricole Cheuvreux, an equity broker and a subsidiary of the group’s corporate and investment bank Calyon, has added five new European dark pools to its suite of trading destinations, allowing its clients to benefit from the wide possible selection of equity pricing across Europe.
CA Cheuvreux now offers access to Chi-Delta (owned by Chi-X), Turquoise Mid-Point (Turquoise), BATS Europe Dark Pool (BATS), Neuro Dark (Nasdaq OMX Europe) and Xetra Mid-Point (Xetra).
These five dark pools are mid-point dark pools and thus offer several advantages for clients that include reduced information leakage, reduced market impact and price improvement. For DMA, access to these connections is live and will be available at the end of November 2009 through CA Cheuvreux’s dark liquidity-seeking algorithm, CrossFire.
CA Cheuvreux claimed that its CrossFire algorithm provides clients with access to alternative execution facilities in terms of average daily volume executed, while also taking into account their trading preferences by tailoring its execution policy to their investment style.
Bertrand Patillet, executive vice president of CA Cheuvreux, said: “The addition of these 5 new dark venues to our offering demonstrates CA Cheuvreux continued commitment to providing the greatest liquidity access, wherever this liquidity lies, through our advanced trading tools for ‘smart and discrete fishing’.”
