Nyse Technologies has shut down the Euro Millennium dark pool following completion of its $144 million take-over of Nyfix.
In a statement announcing completion of the all-cash deal, Nyse technologies says Nyfix Euro Millennium operations "will cease immediately". It says users of the dark pool will be encouraged to bring their liquidity to SmartPool, the European dark liquidity venue created by Nyse Euronext in partnership with leading investment banks.
Nyfix has poured millions of dollars of investment into Euro Millennium but has seen precious little return since the platform went live in second quarter 2007.
Nyse agreed a deal with ConvergEx earlier this month to take over Nyfix's Transactions Services arm in the US, comprising the Millennium Alternative Trading System (ATS) and its direct market access (DMA) and algorithmic products.
Nyses' primary interest lay in Nyfix's FIX business, which incorporates the company's Nyfix Marketplace and FIX Software unit.
"With the Nyfix Marketplace, Nyse Technologies now provides a vital and unique connectivity link between the buy-side and sell-side at the point of origin in the trade flow process," says Stanley Young, Nyse Technologies CEO. "This includes more than 450 buy-side institutions and more than 600 sell-side institutions, and connections to exchanges and other electronic trade execution venues around the world."