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Dark Pools Shed Light on Their Operations

"After years of operating in the shadows, dark pools are coming into the light.

"Goldman Sachs Group Inc.  and Credit Suisse Group AG, two of the biggest operators of opaque trading venues known as dark pools, which execute trades away from stock exchanges, on Monday published documents explaining in detail how their venues work.

"The disclosures came on the day that the Financial Industry Regulatory Authority issued for the first time data on volume of shares traded on dark pools.

"Goldman Sachs has been weighing the move for more than two months. The bank has grown concerned that increases in complexity and instability in the stock market are harming investor confidence and hopes to address the issue by being more transparent about its own trading operations, said Brian Levine, co-head of Goldman's Global Equities Trading and Execution Services."

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