Banks reduce dark pool trading as Brexit slams US markets

London

BRITAIN'S vote to leave the European Union kicked off a torrent of volume in markets around the world last Friday, prompting banks to cope with the fallout by reducing trading in their dark pools.

The "Brexit" result sparked a global equity selloff and set off a turbulent open for the London stock market, propelling trading volume as much as 700 per cent higher than normal and slowing some opening stock auctions. Morgan Stanley's dark pool briefly went offline during London's morning, said people familiar with the matter who asked not to be named, citing confidentiality.