Bloomberg Algo Shines Light into Dark Pools
Currently, B-Dark lets users see into the 15 dark pools Bloomberg is connected to directly. This provides a view into more than 90 percent of dark liquidity across the industry, according to Raymond Tierney, chief executive and president of Bloomberg Tradebook. More important, visibility into alternative trading systems gives the buyside the information they’d need to re-route their orders if they’re not finding sufficient liquidity in a particular dark pool.
“They don’t find out at the end of the day that they made a bad decision with an algo choice; they can find out in real time that they need to make adjustments,” Tierney said. “And the more information that buyside clients can get around in real time, on demand around the venues that they’re engaged with, the better they will be in understanding how to manage and re-distribute their liquidity.”