Missmarketcrash has a new favorite phrase this evening - Dark Pools. Gosh...almost as good as a Philip K. Dick novel, Missmarketcrash is happy to report that "Turquoise is considering linking dark pools". Or some such thing. I am hoping you have taken that all as poetically as I have, with visions of said "dark pools" located somewhere in the clear Caribbean, and some kind of life force, likely some kind of quant-non-human, is finding the need to network said murky depths.
It is all about liquidity and secrecy but sadly, has nothing to do with the Caribbean. Dark pools are somewhat like dark matter - the presence and size of dark pools can be inferred by effects on visible aspects of the market, but, they remain hidden. Dark matter is known to make up more of the universe than the visible part. And what about dark pools? What equities are in them, and, what are they worth?
Turquoise is an equities trading platform backed by a group of large investment banks. The linking of dark pools is interesting - will such linking provide an understanding of the mass of dark pools out there to a chosen few within the Turquoise universe? Or will it act to keep it a murky mystery to all outside? Or both? Or neither?
Missmarketcrash admits her understanding of Dark Pools and such is clearly twisted by the interference of the rich fictive fantasy element in her head. But they must have been named that for the same reason.