Barclays announced today it will continue reporting monthly dark pool volume data.
The announcement comes after Credit Suisse, operator of the market’s largest dark pool, Crossfinder, stopped reporting its volumes on April 19. Credit Suisse gave no public reason for going dark on its data.
Monthly dark pool volume is reported by Rosenblatt Securities and Tabb Group.
Barclays, operator of LX, said in a release that reporting dark pool data volume was in the best interests of the industry.
“Our commitment to reporting volumes and other aggregate details about LX underscores Barclays’ belief that transparency is not only important, but that it benefits both our clients and the market overall,” said Bill White, head of equities electronic trading in a release. “As the equities market structure continues to evolve, our belief is that more transparency will assist clients in finding natural sources of liquidity and allow them to make more informed decisions on their trading.”
Barclays LX is the second largest dark pool, according to the latest Rosenblatt Securities data. In March, LX reported an average daily volume of 89 million shares, down from 92 million the prior month. This translates into 1.45 percent of consolidated market volume.
Barclays reported that LX crossed 99 million shares in April, representing $6.6 billion in average daily notional value traded.
In contrast, Crossfinder reported trading of 123.1 million shares or 13 percent of volume in the February Rosenblatt survey, the last time it reported volume. At that time, Crossfinder also accounted for 1.9% of total consolidated trading in equities, lit and dark.
According to Rosenblatt Securities, March dark pool market share fell overall for the second consecutive month to 14.67 percent of consolidated U.S. equity volume versus 15.26 percent in February.
