BLOOMBERG TRADEBOOK Forges Dark Pool Transparency Agreements
B-Dark is First Algorithm to Offer Real-Time Venue Transparency in Dark Pools
NEW YORK -- August 30, 2010
BLOOMBERG TRADEBOOK®, a leading global agency broker, today announced
exclusive arrangements with leading industry dark liquidity providers to
deliver full transparency and visibility of dark pool executions.
Under the new arrangement, Tradebook can show traders where their orders are
being filled, in real-time, providing additional insight that enables more
informed decisions about where to direct order flow and discretionary trades.
Tradebook also launched its B-Dark algorithm, which contains the first
analytic to deliver real-time venue transparency in dark pools, allowing
traders to execute dark liquidity orders with more control and visibility.
“For far too long the buy-side has tolerated a critical lack of information
when trading in dark pools and that needs to change,” said Raymond M. Tierney
III, the new Chief Executive Officer and President of Bloomberg Tradebook LLC.
“We are encouraged that dark pool providers are joining us to ensure that dark
liquidity and algorithmic trading is safer, more fair and open throughout the
Bloomberg Tradebook is increasing access to information with the release of
its new B-Dark algorithm, a dark only version of the already widely used
B-Smart^SM algorithm, which helps traders seek optimal execution prices.
Targeted towards traders of mid-and small-cap equities, B-Dark provides
traders with a sophisticated way to trade in dark-only venues.
B-Dark enables traders to control more of their workflow by designating
urgency levels and specifying the level of aggression with which the algorithm
will seek dark liquidity. In addition, B-Dark provides anti-gaming logic,
including order randomization and real-time venue slippage analysis, to
protect traders from toxic flow that sometimes resides in dark venues.
“Bloomberg Tradebook’s clients expect us to do much more than supply
connectivity,” added Mr. Tierney. “The industry arrangements, coupled with our
new B-Dark algorithm, give our clients unprecedented transparency and control,
allowing them to make split-second decisions about best price executions in
both lit and dark markets.”
For more information on Bloomberg Tradebook type BTRD<GO> on the Bloomberg
Professional® Service or go to http://www.bloombergtradebook.com.
About Bloomberg Tradebook
BLOOMBERG TRADEBOOK® is a leading global agency broker that provides direct
market access and a breadth of trading analytics and algorithms to
institutional traders that seek maximum alpha on every market transaction.
Founded in 1996, Tradebook offers its customer base multi-asset,
multi-currency trading solutions to actively manage complex trading strategies
for equities, futures, options and FX in over 60 global markets. For more
information, please visit http://www.bloombergtradebook.com.
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