Last month global regulator the International Organisation of Securities Commissions added its voice to calls for tighter rules around dark pools. That was followed last month by the decision of the ECON Committee of the European Parliament to offer its support to a paper which favoured the use of pre-trade transparent venues over their dark counterparts.

This wave of anti-dark sentiment is coming at a crucial time for the venues and equity market infrastructure, as the European Commission conducts an overhaul of its Mifid share-trading rulebook.