Dive into hidden liquidity with OES’s Dark Pool Explorer algorithmic tools. Our proprietary dark router technology scans hidden pools of liquidity, finds the best price and executes trades anonymously. With Dark Gate and InterPool, you can trade both large blocks and smaller orders more efficiently—with no market impact—and achieve price improvement.

Dark Pool Explorer tools support your strategy without revealing it and give you full access to dark liquidity in whatever way best fits your trading strategies and client needs—all at a low cost per share on execution, with no connectivity, subscription or service fees.

Dark Gate™: Bringing more opportunities to light

Dark Gate expands trading opportunities by adding dark pools as anonymous routing destinations for orders originating in the National Market System.

• Smart routing of outbound exchange and market-center orders to dark pools
• Finds all pools of dark liquidity: visible, hidden and reserve
• For dark pools: improves flow of crossing opportunities, thus improving match rates
• For orders in NMS market centers: provides price improvement from the NBBO
• Maintains total anonymity and prevents trade-interest leakage

InterPool™: Connecting dark-pool liquidity

Through undisplayed, anonymous indications of interest, InterPool creates order matches and executions between multiple, independent dark pools, exponentially increasing crossing opportunities.

• Creates new liquidity and enables higher fill rates by anonymously aggregating buyers and sellers who are fragmented across various dark pools
• Offers sell-side liquidity linkage that is invisible to clients
• Orders are generated between clients using anonymous indications of interest and routed for execution and printing
• Electronic agency broker status, rather than ATS, ensures unlimited volume potential
• No leakage and no price slippage