Source: Liquidnet
Liquidnet, the global institutional trading network, today announced the launch of Liquidnet Dark IEX, a new order routing strategy that provides the buyside with more access to safe trading opportunities by giving them the ability to access Liquidnet’s market-leading institutional liquidity pool while working their orders within IEX.
This proprietary algorithm was designed to give the buyside broader access to block liquidity and a safer way to trade large orders while minimizing market impact.
“We are always looking to provide our Members with better access and more control over their block orders. Traders can now work their orders safely and securely within both Liquidnet and IEX. This is one more way that we are providing the market with safe and efficient ways to trade,” commented Scott Kartinen, Head of Algo Products at Liquidnet.
“For the buyside looking to execute blocks, Liquidnet sets the standard in “upstairs trading” while we at IEX are proud of attracting large orders in the continuous market through our protective technology. This new routing strategy delivers the best of both worlds to the buyside,” commented Ronan Ryan, Chief Strategy Officer at IEX. “Through this collaboration, safe access to two significant pools of liquidity are brought together for the buyside.”
How it works
Liquidnet Dark IEX is a brand new routing strategy which exposes each order to Liquidnet’s pool of deep, high quality liquidity while accessing liquidity in IEX’s pool. Liquidnet clients can access the algorithm from their desktop application or through Liquidnet’s Trading Desk.