Aquis Exchange PLC - London-based exchange services company - Pan-European equities trading division Aquis Markets has launched new ’Dark to Lit Sweep’ functionality on its UK and EU platforms. Dark to Lit Sweep allows members to sweep from Aquis Matching Pool dark order book to the lit book with one order. It uses Aquis’s low-latency technology to allow members to find the best prices across both books while keeping market impact low. Members can cancel their order if no immediate opposing order is found, or rest on the lit book until a buyer or seller matches with the remainder of the order.

A variation also is available for liquidity providers and non-client proprietary businesses. These can use the Dark to Lit Post-Only option to check AMP for mid-point liquidity before posting the remainder of an order on the Lit book.

Aquis added dark trading to its suite of trading services in 2022 after assuming UBS MTF assets in March.

Chief Revenue Officer David Stevens says: ‘At Aquis we are intent on offering our members multiple options to execute their flow with as minimal impact and cost as possible. That is why we launched our dark pool...We intend to further expand our range of order types and functionality in 2023. Dark to Lit Sweep is a natural extension of our overall strategy and will let members access AMP and the unique attributes of our lit book with maximum efficiency.’

Current stock price: 404.00 pence, down 1.0% in London on Tuesday

12-month change: down 10%

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