The firms said that the arrangements will allow "algorithmic trading orders of each firm to interact with the US equity liquidity found in three of the largest broker-dealer operated 'dark' liquidity pools in the US--Goldman Sachs' SIGMA X, Morgan Stanley's MS POOL and UBS' PIN ATS."
"We're confident that providing our respective clients access to each other's liquidity will achieve even better crossing results for our clients in an increasingly fragmented market," says Greg Tusar, managing director of Goldman Sachs Electronic Trading, in a prepared statement.
Andrew Silverman, managing director of Morgan Stanley Electronic Trading, says in a prepared statement that "we value our clients' confidence in us to provide them with additional liquidity with no information leakage in the handling of their orders. "These arrangements will enable us to work with trusted industry participants to deliver the same level of confidentiality our clients have come to expect from us."
Will Sterling, managing director of UBS Electronic Trading says in a release that "our clients are looking for incremental liquidity without having to split each order across many different algorithms. These agreements should offer clients access to additional high quality liquidity without making their trading process more complex."
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