The Asia-focused US fund manager wants to limit its interaction with high-frequency traders, says head trader Shane Neal.
Institutional investors that trade multiple Asian markets using swaps and synthetics may see their block size orders getting a later priority than other investors.
Asset owners and fund houses are warned they need to act to counter Mifid II proposals that could threaten their ability to cross block trades in dark pools.
Glenn Lesko, Instinet’s Asia CEO, expects to see more dark pools set up in Asia – by large regional banks, among others – and hence more tie-ups such as this one.
The buy-side trading platform expects to agree at least one alliance with a traditional exchange in Asia in 2012. Singapore's bourse is a likely contender, say traders.
Alternative trading venues are living up to their billing as good execution venues for less liquid stocks, according to figures from several platform providers.