March 24 Citigroup Global Markets Japan Inc
will offer dark pool trading services -- private venues used to
match large trades -- to institutional investors in Japan, the
Nikkei business daily said.
Dark pools allow traders, especially of large blocks of
stock, to hide their intentions and avoid moving share prices.
They have gained traction over the last decade as the
average size of trades dramatically decreased on the
The business daily said Citigroup Global Markets' dark pool
will offer a faster, lower-cost alternative to traditional
trading. The actual trades will be executed through the Tokyo
Stock Exchange's TosTNeT system.
Citigroup Inc (C.N) 8710.T expects high demand in Japan
from both foreign and domestic institutional investors and aims
to expand its share of stock trading in Tokyo, the newspaper
Shares of the company were up 6 cents at $4.10 in late
morning trade Tuesday on the New York Stock Exchange.
(Reporting by Abhinav Sharma in Bangalore; Editing by Maju