Post by
Arbourmark on Dec 07, 2021 4:13pm
Dark Pool trading
If you are frustrated with this trading pattern join the club. There are a few houses using dark pool trading where the bids and asks are dark and do not show up on a level 2.
Late this afternoon the market maker (house 22) was at $4.60 on the bid and BMO(house 9) had a large block of 6,700 at $4.65. Someone obviously tried to hit that block of 6,700 but got filled at $4.51 via a dark pool trade involving TD and CIBC. There were 73 dark pool trades today out of total of 212 trades which equates to 34% of the volume.
This is not normal for retail to use dark pool trades nor is it for small lots of 100-500 shares.
Based on my observations it is CIBC house 79 and Anonymous (house1) that is using the dark pool trades. I suspect a vast majority of anonymous selling is CIBC hiding behind Anonymous.
Comment by
stocksarefun on Dec 07, 2021 4:15pm
How do we alert the authorities to the fact that CIBC's trading desk is using the dark pool to sell shares below the lowest bid? If you have proof of that transpiring, you should file a complaint with the OSC, no?
Comment by
Arbourmark on Dec 07, 2021 4:34pm
I don't think it's illegal, should be but it's not