HSBC Holdings has put on hold its plan to roll out a dark pool for retail investors in Hong Kong, The Wall Street Journal reports. The bank has frozen its proposal as it feels Hong Kong authorities need more time to fully review the role of alternative forms of liquidity for the market. For now, it will launch the StockMax dark pool for institutional and professional investors. HSBC’s service for retail investors would have helped market participants save money by allowing them to achieve spreads between bid and offer prices narrower than those available on Hong Kong Exchanges & Clearing.
Click here for the story from The Wall Street Journal.