Euronext Exits Competition to Build Not-for-Profit Dark Pool
The U.S. Securities and Exchange Commission headquarters stands in Washington, D.C., U.S., on Wednesday, Oct. 21, 2009. The SEC may halt the expansion of the fastest-growing stock networks in the U.S. with rules to improve transparency in so-called dark pools.
Photographer: Andrew Harrer/BloombergEuronext NV, an operator of stock markets in countries including France and the Netherlands, has withdrawn from the competition to build a European not-for-profit dark pool.
“We took a considered decision to withdraw from the technology selection process,” said Caroline Nico, a spokeswoman for Euronext. “We have a full development schedule delivering new business initiatives and committed client projects. We felt it necessary to prioritize the commercial returns from these over uncertain returns from project Plato.”