EU Looks To Limit Off-Site 'Dark Pool' Trades
Law360, London (February 5, 2020, 5:13 PM GMT) -- Europe's securities regulator has said it will crack down on shares traded away from exchanges after finding that the bloc's transparency rules have not been entirely successful in curtailing off-site "dark-pool" transactions.
The European Securities and Markets Authority said on Tuesday that companies are trading high volumes of securities on controversial off-exchange venues. These dark pools, as they are known, are private venues that allow traders to keep the price and volume of orders hidden and anonymous, or dark, until a deal is completed.
The updated Markets in Financial Instruments Directive, known as MiFID II, and its sister regulation MiFIR, are...
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