Swiss Block

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Swiss Block is a new facility to be launched by SWX Europe that will offer trading of large blocks of stocks in a "dark pool."

Swiss Block will allow trading in blocks of shares worth more than SFr500,000 ($463,000), the equivalent of about 73,000 shares in UBS, the bank. The average size of a trade carried out normally on a European exchange is about a sixth of that.

Dark pools have been operated by independent specialists such as US-based Liquidnet and Nyfix, or the brokerage arms of investment banks. This will be the first time a Europoean exchange has entered the dark pool arena.

Nyfix is partnering with the SWX on Swiss Block.[1]