Reuters: Financial Services and Real Estate: Goldman shutters Canadian "dark pool" trading ops

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Goldman shutters Canadian "dark pool" trading ops Apr 27th 2012, 21:51 TORONTO, April 27 | Fri Apr 27, 2012 5:51pm EDT TORONTO, April 27 (Reuters) - Goldman Sachs is shutting down its Canadian "dark pool" trading operation less than a year after it launched, the U.S.-based investment bank said on Friday. Goldman launched its "Sigma X" dark pool operation last August. Dark pools platforms allow big players to place and match buy-and-sell orders anonymously to avoid tipping off rivals and moving share prices. Goldman said in a statement that the service would cease accepting orders as of the close of trading on Friday. A company spokesman did not immediately return calls. Sigma-X was one of a handful of alternative trading system in Canada, where equity trading is dominated by the Toronto Stock Exchange, owned by TMX Group. TMX is currently the target of a $3.8 billion takeover bid by a group of 13 Canadian financial institutions.

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