Boom in 'Dark Pool' Trading Networks Is Causing Headaches on Wall Street
By SCOTT PATTERSON and AARON LUCCHETTIMay 8, 2008
When Cheryl Cargie, head trader at Ariel Investments LLC in Chicago, decided last month to buy 1.3 million shares of a midcap stock listed on the New York Stock Exchange, she spread orders among several "dark pools," the secretive electronic trading networks that match buyers and sellers anonymously.
The pools are booming in popularity as big institutional investors look for ways to trade blocks of stock without triggering ripples in the share price, as can happen on traditional stock markets such as the NYSE and Nasdaq Stock Market. But all that darkness is causing nightmares on Wall Street.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment