Execution service provider Neonet confirmed that it will be an early adopter of and provide its clients with access to North Sea, the re-launched dark pool functionality from Oslo Børs, which is Norway’s only regulated market for securities market.
This includes fully integrated direct memory access (DMA), smart order router and algorithm support. North Sea will allow Oslo Børs members to execute larger orders, at mid-price, in a dark pool, in an exchange regulated environment. The new version of North Sea is launched from April 20.
“It is essential for us, as an independent execution specialist, to offer comprehensive access to a range of liquidity sources to our clients and we therefore closely monitor the development of new venues and liquidity pools,” said Tim Wildenberg, chief executive officer (CEO) of Neonet.
“With our Nordic heritage we are happy to announce access to the new North Sea dark pool for Oslo-listed securities leveraging the proven Millennium technology.”
Bente A. Landsnes, president and CEO of Oslo Børs added: “We are pleased to see the interest from members in our new North Sea Dark Pool. Larger investors increasingly want the protection that they have found dark pools offer.
“The dark pool functionality we are introducing allows us to offer this in a well-regulated and monitored stock exchange environment with reference prices that are directly related to pricing on our transparent market.”
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