NYFIX Euro Millennium

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Euro Millennium was a neutral dark pool for pan-European listed cash equities operated by NYFIX. It was shutdown after NYSE Technologies bought NYFIX in 2009.[1]

Euro Millennium provided access to one of the world’s largest and deepest pools of liquidity and is open to both the buy-side and the sell-side communities, the continuous real-time matching algorithms execute trades within the best bid/offer of the primary market.

Key features[2][edit]

  • Open Access - Open to the buy side, sell side and hedge fund community. The continuous real-time matching algorithms execute trades within the best bid/offer of the primary market.
  • Anonymity - Orders remain completely hidden in the pool, minimizing information leakage and market impact.
  • Pass Through - Delve deep in the pool to seek liquidity before onward routing to a liquidity destination of your choice.
  • Depth - We will support 8,000 instruments across 10 European markets, and offer depth and breadth in liquid as well as

small and mid cap stocks.

  • Aggregation - We provide open access to dark algorithms and seek alternative pools of liquidity.
  • Low Latency - We offer rapid access and turn around in one of the deepest and broadest liquidity pools in the market.
  • Market Coverage - UK, Germany, France, Switzerland, Sweden, Denmark, Finland, Belgium, Portugal, and the Netherlands.
  • Anti-Gaming Controls - Conditional orders placed into the neutral pool benefit from the protection of anti-gaming parameters which you can choose to apply to conditional orders resident in the pool. You can also stipulate other parameters such as minimum execution size.
  • Give Ups - To facilitate buy side order flow, Euro Millennium allows executions to be given up to your preferred broker of choice. This is done on a post-trade basis following execution of the order.
  • Clearing & Settlement - Partnered with BNP Paribas Securities Services to offer a cost effective pan-European clearing and settlement service.
  • Straight Through Processing (STP) - NYFIX has worked with Shadow Financial to deploy a state of the art back office solution, enabling Euro Millennium to achieve end to end STP.