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SIX: Trading is moving away from lit venues

Low volumes are driving traders to use closing auctions as a liquidity event

Fears shift to dark pools could impact price discovery
Fears shift to dark pools could impact price discovery Photo: Stefan Wermuth/Bloomberg/Getty Images

Equities trading is shifting away from lit venues, potentially impacting the quality of pricing, according to exchange operator SIX.

Trading is moving off continuous lit order books to “conditional” order types such as dark pools or closing auctions in an environment of low trading volumes, according to a survey by SIX, which runs both the Swiss and Spanish stock exchanges.

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