Clearpool Unveils Iris in Aim to Improve Dark Pool Execution
Iris aims to combat more nimble high-frequency traders.
Joseph Wald, chief executive officer of Clearpool Group, tells WatersTechnology that when traders try to source liquidity and improve order-fill rates, the market right now is based almost entirely on speed, and smaller, more nimble high-frequency players are using speed as their advantage to get in front of other market participants. But by aggregating orders to elevate their prioritization in a venue's execution queue, a firm can level the playing field.
"What we've done with Iris is we've
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