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.
- European platforms step into the pool. Financial Times.