UK Offers Unlimited Dark Trading on Lost EU Stocks
By Will Hadfield and Luke Clancy
January 8, 2021, Risk
UK regulators are allowing banks and trading venues to carry out almost unlimited dark trading in the shares of companies with primary listings in the European Union, as conversations with Risk.net suggest many fund managers have yet to wake up to the implications of the move.
The UK’s Financial Conduct Authority used a regulatory update published on December 16 to ease limits on trading in dark pools, which allow big asset managers and other market participants to execute large orders without revealing their trades to the whole market. The rule change took effect on January 4, the first trading day since the post-Brexit transition period came to an end, and might yet trigger a response from the EU authorities.
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