The value of trades matched on NYFIX Euro Millennium rocketed to more than EUR 1 billion in December from around EUR 178 million in November, following a series of initiatives to boost activity in the European dark crossing network. Matched volume also rose to 251 million shares in December from 45 million the previous month.
The pool also set two one-day records on 17 December when it matched 50.7 million shares representing more than EUR 150 million of value. It has gone on to beat the value record this year, matching more than EUR 200 million on 13 January.
Euro Millennium’s performance bucked the general trend in Europe in December, where equity trading activity declined overall. According to data vendor Thomson Reuters’ monthly market share reports, the value of European equity trades fell to EUR 960.7 billion in December from EUR 982.8 billion in November. Trading volume for the same period fell to 122.6 billion shares from 148.6 billion.
“[The success in December] was a combination of education about how to use the dark pool and momentum initiatives such as fee holidays and our ‘Experience the Dark’ programme, which encouraged firms to put more liquidity in the pool,” Chris Smith, director of NYFIX International, told theTRADEnews.com.
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