Non-banks to get dark pool for inventory exchange
Competition could heat up for banks, but may cue tighter prices
Foreign exchange platform FastMatch will open its new dark pool next month with a dozen non-bank market-makers – a move that increases competition for banks, but could tighten prices from alternative liquidity providers.
The dark pool, known as MidMatch, is currently in production and available. There is already a non-bank beta client ready to give the venue a go, and another should be onboarded this month. FastMatch recently announced the offering.
MidMatch is being created as a means to
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