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Every Trade Counts Ahead of Europe’s Looming Dark Pool Crackdown

  • Each trade in 2017 will count in calculating dark-pool limits
  • Stock exchange initiatives may soften rules’ impact on trading

Operators of European stock markets are finding that bigger is better.

In the New Year, regulators will be counting every European stock trade to see whether a transaction took place in a dark pool or on a public exchange -- before rules capping the percentage of dark trading begin in 2018. Crucially, special rules for larger trades could keep the dark pools open and available to investors.