Goldman Sachs (GS.N)-backed Tora, a dark pool operator in Japan, plans to expand into Hong Kong, Singapore and Australia next year, its chief operating officer said.

U.S.-based Tora launched its Crosspoint dark pool service in Japan in February 2010 and says it provides traders with access to more than 5% of the orders passing through the Tokyo Stock Exchange.

“Expansion of Tora Crosspoint in Hong Kong is something we are actively pursuing... At this stage, we are looking towards a launch in early 2011,” Chief Operating Officer Ian Lombard said in an email interview.

 

Dark pools, so named because they represent large pools of buy and sell stock orders not visible to regular investors, are relatively new to Asia but they operate quite freely in  developed countries where they account for billions of dollars in daily trades.

 

In Asia, where stock exchanges are often seen as national assets, regulators are likely to curb activities of dark pool  operators to protect incumbents as well as ensure markets 

remain wholly transparent.