A market trading platform (pool) that is a middle ground between a dark pool and a light pool. The pool conducts its business mainly in the dark- i.e., without exposing its book (of bid and offer orders). However, it only reveals its book at specific times during a trading day or if certain conditions are met. The pool exposes only the general direction of stock trading, and participants shall not expect a full list of bids and offers or market depth from such exposure. A more transparent tool is the so-called electronic limit order book (ELOB) which provides more details with respect to orders and market depth.
June 11, 2024
