Chi-East, the “dark pool” joint venture between Singapore Exchange and Nomura's (9716.T) Chi-X, said on Monday it has completed the roll-out of its trading platform for securities listed in Hong Kong, Japan and Singapore.

All of Chi-East’s initial participants — Instinet, Deutsche Bank (DBKGn.DE), Morgan Stanley (MS.N), Nomura and UBS (UBSN.VX)— have successfully matched trades on the platform, the firm said in a statement.

Dark pools are trading platforms that match large “buy” and “sell” stock orders by institutions that are not visible to regular investors. They are relatively new to Asia but are common in developed countries where they match billions of dollars in daily trades.  

   

“We are pleased that, two months after launch, Chi-East is now matching trades for a wide universe of securities listed in Hong Kong, Japan and Singapore,” said Ned Phillips, CEO of Chi-East.  

 

“We have also witnessed the pioneering use of independent Central Counterparty Clearing (CCP) for Japanese securities, which is provided by LCH.Clearnet. The use of independent CCP, outside of national clearing houses, is a breakthrough for the market.”