Dark Pools Eye Retail Flow
Traders Magazine, April 2008
Large broker-dealers that operate dark pools are falling over themselves to attract retail flow. Because retail-size orders are now larger than the average executed order in the market, their presence in dark pools is coveted. The scramble for retail flow is also enabling some dark pools to boost their executed volume at a time of increased dark-pool competition. Credit Suisse in December launched what it calls its CrossFinder Retail Network, an initiative to accumulate and pass retail flow through CrossFinder, the broker's ATS, to match up against resting institutional orders. Credit Suisse has about a dozen retail brokerage clients, according to Dan Mathisson, head of the firm's Advanced Execution Services group.
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