SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P. Morgan and BNP Paribas, has expanded its pan-European mid cap service.

From January 2010 the SmartPool product universe will be expanded to include the constituents of the following European indices: FTSE All Share Index (UK); CDAX Index (Germany); AEX All Share (Dutch); and CAC All Share (French).

As a result of this expansion, the total number of securities traded on SmartPool will increase by 110 per cent.

Launched in February 2009, SmartPool offers trading in the leading indices of the 15 European equity markets traded on SmartPool, including securities listed on the four NYSE Euronext markets. 

SmartPool expanded its dark order book in September 2009 to include a pan-European mid-cap segment.

Lee Hodgkinson, chief executive of SmartPool, says: “Our expansion into offering mid-caps across Europe is proving to be of great value to customers. By capturing a diverse pool of liquidity, users of SmartPool regularly achieve price improvement of between 4 to 6 basis points. For smaller securities where liquidity is scarce and implicit execution costs tend to be higher even greater efficiencies can be achieved. During November 2009, for example, over 30 per cent of trading on SmartPool took place outside the leading European blue-chips.”