Liquidnet’s ‘dark pool’ reaches $1 billion of traded bonds

Dark poolInstitutions have traded over $1 billion (€900 million) of bonds on Liquidnet’s ‘dark pool’ platform in the five months after its launch.

Liquidnet, an institutional trading venue, says the number of users of its fixed income dark pool has also grown, as well as the volume traded.

Fixed income members have increased to 155 firms and over 330 active traders. The firm said that daily liquidity on the platform had risen to approximately $7 billion since the beginning of this month.

The dark pool enables trading for US and European high yield and investment grade corporate bonds, emerging market corporate bonds and European convertible bonds.

”We recognised the problem and the obstacles ahead were very similar to ones we’d faced when launching our equities business 15 years ago, and we were able to transition those lessons learned into the success we’re seeing today,” said Seth Merrin, founder of Liquidnet.

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