Société Générale has launched its Alpha x crossing network in Hong Kong, marking the arrival of the bank’s dark pool into Asia. The bank plans to roll out the off-exchange trading platform in Australia and Japan next year.
Alpha x has been available for the past year on all major European markets, excluding Spain, and is available to hedge funds and other institutional investors that use SocGen’s electronic trading services. According to the bank, Alpha x can reduce transaction costs by half. It matches buy and sell orders for particular stocks, crossing at mid-price of the market's best