Equiduct: evolutionary leapfrog
Turquoise: the banks slowly muscle in
Euro Millennium is a European offshoot of the Millennium darkpool that has been operated in the US by Nyfix, a technology company, since 2002.
Trades are cleared by Nyfix, which has broker-dealer status, and settled locally on a pan-European basis by BNP Paribas.
It offers anonymous crossing of orders either at the mid-point of the bid-offer spread, at a specified price or within a range, to allow for higher fill rates.
Unlike some other crossing networks, the Millennium systems are truly neutral.
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