Financial Times

Squawker trading venue eyes early launchFT Trading Room

‘Christopher Gregory, co-founder and chief executive of Squawker, told the Financial Times that many investors remained concerned about placing large blocks of shares onto electronic trading venues – even supposedly anonymous dark pools. Other market participants could “ping” small market orders to buy and ftsell, and work out the size of the block, he said.

“That leaves trading via an inter-dealer broker, but that comes without the benefits of electronic transaction processing, compliance monitoring or audit trail,” he said.

Squawker will let investors anonymously flag up indications of interest online and commit to deals. Mr Gregory, a former executive at Sungard, the US trading technology company, said Squawker was effectively a centralised, interactive, electronic interdealer broker with a compliance trail and audit monitoring.’