London — Deutsche Boerse is closing its dark pool for stocks, a sign the venue never recovered after major brokers unplugged from it three years ago. The company confirmed its dark pool, called Xetra MidPoint, will close this summer. Brokers Credit Suisse Group and Morgan Stanley stopped sending orders to it in 2013 because they worried a quirk in the system, involving a partnership with Liquidnet Holdings, allowed other traders to sniff out their trading intentions, according to reports at the time. While Xetra MidPoint’s market share dwindled following the revolt, dark pools remain popular. So-named because they hide bids and offers before a transaction takes place, dark pools were designed to make it easier to trade large blocks of stock. At least three new ones have been introduced in Europe in recent years. A Deutsche Boerse spokesman said the company will rely on auctions and a new order type to allow firms to continue executing large trades. Liquidnet did not reply to a reque...
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