US fund managers launch their own dark pool

Some of America’s largest asset managers are looking to launch their own trading venue, allowing them to buy and sell large blocks of shares without the involvement of exchanges or high speed traders. The new venture is majority owned by Fidelity and includes some of the largest money managers including JP Morgan AM, BNY Mellon, Blackrock, Capital Group, MFS, T Rowe Price, Invesco and State Street. The platform is looking to formally launch later this year. Recent articles in WSJ and FT provide some additional context to this development.