SIFMA and AFME Comments on IOSCO Dark Liquidity Report

Comment Letter

Date

February 1, 2011

SIFMA and the Association for Financial Markets in Europe (AFME) issued a joint comment letter to the IOSCO regarding its recent report on "Issues Raised by Dark Liquidity." The letter provides a general defense of so-called "dark" liquidity and other internalization practices of broker-dealers, arguing that such practices can provide genuine benefits to consumers without detracting from the "overall vibrancy" of displayed markets.

Cross References

Issues Raised by Dark Liquidity (IOSCO Report, Oct. 2010)