The European Union's top securities regulatory authorities are considering the "dark pool of the transaction price disclosure rules" so that regulatory agencies in the spotlight of the OTC market place.

Of European Securities Regulatory Commission is collecting the dark pools to be resolved, including "pricing, transparency and reporting," Eddie Wymeersch, CESR's Chairman, said concern about the data. Dark pool trading platform that allows investors to stay away from the supervision of trading in securities exchanges, so that they do not have to disclose positions.

In a dark pool for the United States, Europe and the United Kingdom securities regulators to consider the regulatory center of the storm the market structure to cope with a severe financial crisis since the Great Depression. U.S. Securities and Exchange Commission on October 21 proposed rules that require a deep pool in the report of some public bidding, once the deal with average daily trading volume of 0.25 per cent of the stock.

"If the price is a big difference between the swimming pool and dark enough to major markets, we will have more price reports," Wymeersch said in a telephone interview in Brussels.

The quantity and price of securities, lack of reliable information in the dark pools pose trying to keep up with the pace of market innovation, regulatory issues.

Data collection

"We figure out how it work, the process is still" Wymeersch said. "It's easy to collect the figures, but the question is whether these figures are reliable. According to some figures, I have over the counter market" has reduced the overall use.

Regulatory agencies do not agree with many bank transactions, in a dark pool. UK's Financial Services Authority, said the dark pools accounted for 1.25%, while the securities trading industry, the European Union is estimated that this figure closer to 40 percent.

Credit Suisse Group AG in its deep pool of European trading in 2009, the last quarter of 10 billion euros (140 billion dollars in stock), Amy Cayzer, a spokesman for the bank in London, said in an e-mail today. Dark pool trading will rise in the European market this year to 7 percent of the total transactions, according to research firm Tabb Group Co., Ltd. report.

Such as Goldman Sachs and ICAP PLC's agent operation to provide customers with a deep pond, the European stock market Euronext and Germany, the New York Stock Exchange. London Stock Exchange Group is likely to be completed in March with its acquisition of rival Turquoise Lake Baikal dark pool of units.

'The implementation of a trade'

"Ah Blackpool is the implementation of a transaction through the market approach will not be in any case," , in the management of law firm Clifford Chance lawyers said in a telephone interview in London. "This will affect the market 'process? You can not really answer that question."

The European Parliament is discussing amendments to the legislative program, will be converted into a European Securities and Exchange Commission securities institutions and markets, more power.

Wymeersch said the Securities and Exchange Commission to grow by 35-85 employees, and to improve its information technology and data storage systems upon receipt of a strong regulatory mandate for next year.