CA Cheuvreux Joins Euro Millenium

CA Cheuvreux has joined Euro Millennium, a neutral dark pool of liquidity for pan-European listed cash equities that was successfully launched by NYFIX International earlier this year.

CA Cheuvreux will offer the benefits of reduced market impact and anonymity to its large base of buy-side and sell-side firms, offering a reliable and proven answer to the dramatic changes observed in European equity markets since the implementation of MiFID.

Euro Millennium is the first truly open European dark pool. It currently matches UK-listed equities, and will be rolling out other major European markets over the course of 2008. Euro Millennium is built upon the proven technology that powers NYFIX Millennium(R), a leading independent US dark pool in operation for the past seven years. Euro Millennium allows participation from both buy-side and sell-side firms seeking price improvement and minimal market impact.

Jerry Lees, Head of Alternative Execution Services at CA Cheuvreux commented: "CA Cheuvreux's strategy is to offer neutral, unbiased access to all new liquidity venues across Europe, enabling our clients to customise their Smart Order Routing strategies to achieve their investment objectives. As the first European neutral dark pool, Euro Millennium further increases the liquidity options open to our clients."

Adding to this, Chris Smith, Director, NYFIX International, said: “Euro Millennium was born out of a committed year-long partnership with buy-side and sell-side participants who have provided valuable advice and feedback through our Advisory Board. We are very proud that Euro Millennium reflects the rapidly evolving needs of our clients in today’s environment of dramatic regulatory change and increased competition. CA Cheuvreux joining Euro Millennium reinforces the depth and neutrality offered by the platform and we are delighted to have them onboard.