Conditional orders allow members to post the same liquidity on multiple venues simultaneously without the risk of over-trading.

David Stevens, Chief Operating Officer, said:

“The addition of conditional orders to our UK and EU platforms is an important extension to AMP, the Aquis dark pool, and means that the exchange now offers a full suite of key trading mechanisms - allowing our customers access to liquidity in a broad range of trading scenarios.”

Members using the Aquis conditional functionality will be able to send an ‘Indication of Interest’ (IOI), which will be met with a ‘firm-up invite’ if there is a potential match. If the member wants to proceed with the trade, they must accept the invite within a 300 micro second time limit, with the resulting trade taking place on Aquis Matching Pool (‘AMP’), the Aquis dark pool.

Members can set a Minimum Execution Size, and are able to specify if they only want a Large-in-Scale (LIS) execution, whereby their firm-up LIS order will only execute against other orders that meet the LIS criteria.

Aquis members can choose to send either a ‘regular’ conditional order, which can match with AMP liquidity or other conditional orders, or they will be able to choose for the order to also interact with clients of OptimX - the block trading consolidator scheduled to launch later this quarter.