Reuters/Chip East
Tim Cave of the Financial News writes today that when Benjamin Disraeli was first elected prime minister in 1868 he proudly exclaimed he had “climbed to the top of the greasy pole”.
Executives at UBS and Goldman Sachs, which have both seen their recently launched dark pool trading platforms climb industry rankings, may currently be having similar feelings.
In the past two years, both banks have launched independent, dark-pool multilateral trading facilities: UBS MTF and Goldman’s Sigma X.
The facilities are designed to offer institutions trading in size protection, through anonymous trading, against adverse price movements.
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