Dark liquidity - Wikipedia, the free encyclopedia:
"In finance, dark pools of liquidity (also referred to as dark liquidity or simply dark pools or black pools) is trading volume or liquidity that is not openly available to the public.[1] The bulk of these represent large trades by financial institutions that are offered away from public exchanges so that trades are anonymous. The fragmentation of financial trading venues and electronic trading has allowed dark pools to be created, and they are normally accessed through crossing networks or directly between market participants."
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