08.24.2016

Chicago Stock Exchange Updates SNAP Auctions’ Data

08.24.2016

Chicago Stock Exchange – Chicago – The Chicago Stock Exchange has provided some key metrics regarding its SNAP auctions.

First, the resting (dark) liquidity in the Chicago Stock Exchange SNAP Auction has increased significantly over the last few trading days.  At the end of last week, there was approximately 25.0 million shares on both the buy and sell side, in over 1100 symbols, in the Auction Only Book (AOO’s). These orders cannot be detected by any means and remain inactive until an auction is initiated by either a client order of size or an exchange initiated event.

Before that, its AOO book had about 18.0-19.0 million shares on each side, in less than 1000 issues.

Second, two large OMS/EMS firms are in the process of certifying for SNAP. Both companies have a large footprint in the equity trading space, which should bring in more liquidity. The exchange operator will send out a notification when they are certified with its IT group.

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