Pan-European Dark MTF for Continuous Trading at the Consolidated Best Bid, Best Offer or Mid-Point
BlockMatch® is a continuous dark MTF that allows clients to match on its bid, offer or mid-point order books, each of which references Instinet's Consolidated EBBO (European Best Bid and Offer). BlockMatch is fully closed with no IOIs sent, orders routed or quotes displayed in public markets.
- Consolidated Pricing
- The Instinet Consolidated EBBO is compiled using Instinet's proprietary market data feed handling technology, which references the prices of the major displayed trading venues in Europe.
- Equal Access
- Resting orders are processed strictly by price-time priority; there is no preferencing of orders or participants by other criteria.
- BlockMatch is a registered MTF that is operated in a trusted agency environment; unambiguous post-trade reports are published immediately.
- Advanced Orders
- BlockMatch supports multiple advanced order types—including limit, pegging, minimum fill and time-in-force—on each of its three order books.
- Natural Liquidity
- BlockMatch is conducive to natural, block liquidity, with commissions charged for executed trades and no rebates or payments for order flow.
Instinet's European Consolidated EBBO