BlocSec, the first Asian dark pool to cater to both the buy side and the sell side launched by CLSA Asia-Pacific Markets earlier this year, is now offering block trading services in the Hong Kong market in addition to those already available in Singapore and Japan.

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Electronic dealing platform provider Tora Trading Services has added direct access via the Tora Trading Platform to global agency broker Instinet’s Asian algorithms and three alternative trading system (ATS) platforms - JapanCrossing, CBXTM Japan and KoreaCross.

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Lehman Brothers has completed the roll out of its algorithmic trading suite, LMX Advanced Strategies, and its trade alert system, Panorama, in the Asia Pacific region. The investment bank has also added Japanese stocks to its proprietary crossing platform, Liquidity Cross (LXSM).

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It remains unclear whether dark liquidity pools will prove as popular in Asia as they are in the US and Canada, according to new research from analyst Celent.

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With Liquidnet Asia due to go live at the end of the month, and players like ITG and Instinet already up and running, the prospect for dark liquidity pools in Asia appears rosy. There remains some scepticism, though, among Asia market practitioners wary of motivations behind the growth in the use of dark pools.

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In a move designed to meet the buy side’s demand for openness, Credit Suisse and Nomura-owned Instinet have agreed to provide their respective clients with access to each other’s Japanese dark liquidity pools – Credit Suisse’s CrossFinder and Instinet’s CBX for Japanese Securities. According to the partners, the reciprocal arrangement will provide clients with access to “one of the largest” dark pools of Japanese securities.

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