Following the introduction of MiFID, the pattern of equity trading in Europe is changing rapidly. The Fidessa Fragmentation Index (FFI) has emerged as the definitive measure of how trading is fragmenting across established and new venues.
Click here to see the top 20.
Nice to see that BATS Europe has announced that it, too, is going to launch a dark pool service. While not too surprising, it is interesting to note that they will be offering a maker taker pricing model as this will be sure to extend the current price war into the dark arena as well.
BATS joins a long list including Chi-X, Turquoise, NYFIX Euro Millennium, SmartPool, Pipeline, NEURO Dark and, of course, Baikal, that will all offer traders different destinations for their dark order flow. If you add to this the pools operated by the major banks such as Goldman [...]