… If this is true, it could be a sign that the FSA is rethinking the classification of dark pools under MiFID. Some of the newer players such as Chi-x, Turquoise, BATS Europe and Nasdaq OMX have become MTFs but these are lit markets, although Turquoise has a dark component. The two leading institutional dark pools, Liquidnet and ITG Europe, were ATSs previously but become MTFs. In addition, NYFIX Euro Millennium, a dark pool for European stocks, already operated as an ATS in the UK, but has become an MTF under MiFID. And on Feb. 2nd, the NYSE Euronext’s SmartPool received FSA approval to operate as an MTF for block trading in European stocks. [1]
What the heck?
I think that some British regulators are trying to get a handle on some markets where obscure things may be happening out of their sight. Or maybe something called SmartPool saw its own shadow and went back into hibernation for 6 more weeks. What do Doomers think?
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[1]: "FSA Considers Classifying Broker Dark Pools as MTFs", by Ivy Schmerken, Advanced Trading, February 5, 2009.
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John-
I blame acronym mania on the text messaging generation.
I have a friend who is a junior high teacher. She says she’ll get things like IMO or LOL in English papers.
You would think that since writing has gotten so much faster and easier than in generations past, we could take the time to write things out. IMHO : )
twist -
I must disagree. One of my former colleagues in the really obscure bit of the military industrial complex where I spent my last productive years (he took his pension money out to open a hydroponics business) was physically incapable of uttering a sentence that had less than three acronyms in it. He was a real hoot at meetings.
During Desert Storm, there was a Doonesbury strip in which the character “Major E. ‘Buzz’ Fogg” lets fly with a great string of C3I jargon [aside: I spent a couple of years on HP J210s helping an exchange SPAWARS 2-ringer pervert the X-startup Hummingbird scripts in JMCIS so that it would be useful ashore vis afloat -- so I actually "got" most of the acronyms]
Anyway, the Doonesbury “reporter” character says something like: “It’s a matter of life and death out there. Shouldn’t we be talking about that?”
… to which Buzz replies: “I am.”
OMG!!! LMAO!!! IMHO, you are correct twist. GTG!!
John-
Ah well, the military has always been known for it’s acronyms, but now we suffer from an acronym plague.