Plato Enters Talks With LSEG Unit To Develop Dark Pool

Law360, New York (July 24, 2015, 5:45 PM EDT) -- Plato Partnership, a nonprofit dark pool backed by a consortium of asset managers and broker-dealers, said Friday it has entered into exclusive talks with the London Stock Exchange Group PLC's Turquoise unit to develop a platform for off-market trading.

The nonprofit group said it narrowed its selection of a partner from more than 20 firms, choosing the pan-European equities platform Turquoise because it was considered to "most closely align with Plato's vision and values."

While a binding agreement is not certain, Plato said any commercial collaboration must meet its goal of creating a nonprofit equities trading platform that reduces trading costs,...

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