BlockMatch

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BlockMatch is a dark pool alternative trading system (ATS) operated by Instinet Europe. It is scheduled for launch in March 2009 and purportedly will offer reciprocal access to other dark pools, including SmartPool and NYSE Arca Europe.

By bringing together multiple third party buying and selling interests, BlockMatch is also a multilateral system or Multilateral Trading Facility (MTF) [1].

BlockMatch is intended for buy-side executions of more than 10,000 shares[2]; reportedly it will use 'indications of interest,' (IOIs) which represent an investor's interest in purchasing securities that have not yet been issued[3].


References

  1. Instinet Europed Set to Begin Trading on Turguoise at Launch. Nomura Inc..
  2. Instinet Prepares to Roll Out BlockMatch for Buy Side in Europe. Advanced Trading.
  3. IOI. REUTERS.