11 replies to this topic

[jjc]

Are these transactions never reported to an exchange, so that they are excluded from published time/price/volume data?

Yes. That is my understanding.

[bln]

Darkpools should'nt really be needed as today there exists such good tools. You have smart algoritmic order execution systems that can sell a large block without affecting the price. They automaticly split up the large order into smaller chunks that can be swallowed by the market, the chunks are distributed over a time frame of a couple of days so the complete block is sold without affecting the price. All stocks sold this way is counted into the "program trading" statistics.