Wednesday, November 18, 2015

SGX's bond-market foray now includes a dark pool

sgxSingapore Exchange Ltd will open a dark pool for bonds as the 42-year-old bourse prepares to enter the institutional fixed-income trading business for the first time next year.
 
The venue, which allows traders to flag interest in a security without indicating the size or the price of their desired transaction, will form part of SGX's Bond Pro platform scheduled for the first quarter of 2016, Tsai Li Renn, the bourse's head of fixed income, said in an interview on Monday.

Designed to minimise the price impact of buy and sell orders, the dark pool will be the first of its kind set up by an exchange operator, according to SGX.

"We asked participants: 'How would you like to access liquidity in this marketplace?'" Mr Tsai said. "We found that they really wanted a dark pool."

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