French broking house CA Cheuvreux is planning to finalise the roll-out of its Blink internal crossing engine for European equities by the end of Q2, following its launch at the beginning of this year.
"Blink has been live in a fairly limited environment, but we are extending it regularly,” Philippe Guillot, global head of trading and execution at Cheuvreux, told theTRADEnews.com. “We are adding customers, markets and securities. It is really about expanding the breadth and depth of liquidity coming into the engine.”
Blink crosses child-level orders from a variety of order flow types coming into Cheuvreux. This includes retail and institutional buy-side, sell-side, algorithmic, program trading and direct market access flow.
Orders entering Blink are duplicated and sent on to displayed exchanges. If an order crosses with another order in Blink, the system either cancels or revises the order in the lit venue to account for the amount matched internally.
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