Dark Pools Face Fire From Down Under

Reuters/Chip East

Tim Cave writes in the Financial News that the rapid growth of dark pools – anonymous share trading systems run by banks and market infrastructure providers – has come under fire from an Australian think tank, which claims the venues could increase trading costs, particularly in emerging markets where they are in their infancy.

The Capital Markets Co-operative Research Centre, based in Sydney, today released new research indicating that the use of dark pools could increase trading costs and harm the price discovery in certain markets

Professor Alex Frino, chief executive of CMCRC and a Professor of Finance at the University of Sydney Business School, said these concerns were most acute in smaller markets.

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