LSE, Lehman Go Dark
EXCHANGES
Last month, The London Stock Exchange (LSE) and Lehman Brothers entered the dark liquidity fray as the exchange and investment firm joined forces to develop a new multilateral trading facility (MTF) for non-displayed orders.
The new venue, to be called Baikal, targets the European equities market, according to officials of the two entities. They both claim that it will be the first to combine a dark pool with algorithmic trading functionality. The launch, subject to approval by the European
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