Chi-East, new platform for the trading of off-order book securities in Asia, has begun.
The new darkpool is a joint venture from Chi-X and Singapore Exchange and should enable investors to make trades “anonymously” and “on a low latency basis”.
According to the two firms, the platform is the first independent dark pool to be set up within the territory.
Morgan Stanley, Deutsche Bank, Nomura and Instinet are among the sell-side brokers which have signed up to use Chi-East.
Chi-East will provide post trade transparency and reporting through a number of outlets including Thomson Reuters, SunGard and Bloomberg.
Ned Philips, chief executive officer at Chi-East, said: “As Asia's first independent liquidity aggregator, we look forward to offering participants and their clients deeper liquidity and the opportunity to minimise market impact.
“We believe we will complement the existing marketplace and support a more dynamic trading environment in Asia."
Dark pools are alternative trading platforms which enable investors to trade large volumes away from more traditional exchanges.
By Jim Ottewill