Aquis introduces a novel ‘dark and lit’ order type to enhance its trading platform.

Aquis Exchange PLC (AIM: AQX) has declared the initiation of its ‘Dark to Lit Sweep’ feature on its UK and EU platforms, ensuring improved prices for traders.

The alternate stock exchange provider noted in a press release that this newly integrated function permits traders to simultaneously explore both the “dark book” and its “matching pool” using a single order. This ensures the procurement of the “best possible price” across both books while keeping the market impact to a minimum.

Traders are given the choice to retract orders if no immediate counter-order is discovered on either book, or they can let the order remain on the “lit book” until the rest of the order is paired.

David Stevens, the Chief Revenue Officer at Aquis, labelled this latest feature as “a logical expansion of our overarching strategy.”

Stevens further stated, “At Aquis, we are dedicated to providing our members with multiple execution options for their flow with the least possible impact and cost.”

He added, “This is the reason we introduced our dark pool (AMP) last year and are consistently working to improve the functionality of Auction on Demand (AoD).

“We have plans to broaden our array of order types and features in 2023.”

Aquis mentioned that it incorporated dark trading into its suite of services in 2022 after procuring technologies from UBS. These were then integrated into its proprietary platform and combined with its existing AMP operation.

The company pointed out that the average daily value of AMP trades has seen a surge of approximately 25% (comparing April’s data with the data from the previous year).

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