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本文在介绍黑池产生及特点的基础上分析其发展现状及潜在风险,进而探讨欧美监管新思路及其对黑池发展的影响,希望对我国场外市场的监管提供借鉴。黑池(dark pool)又称暗池,最初是为大宗交易而建立的场外匿名撮合平台。近几年黑池在欧美市场发展迅速,其大宗交易属性逐渐淡化,随之而来的潜在风险已经引起监管当局的关注。黑池的产生及其特点20世纪80年代,美国计算机撮合技术快速发展,场外电子平台信息披露要求宽松,经纪商为满足大宗交易对效率和保密的需求建立了
Based on the introduction of blackpool production and its characteristics, this article analyzes its development status and potential risks, and then explores the new thoughts of Europe and the United States supervision and their impact on the development of Blackpool. It hopes to provide reference for our country’s oversea market supervision. Dark Pool, also known as Dark Pool, was originally an off-site anonymous matching platform set up for block trading. In recent years, Blackpool has been developing rapidly in the European and American markets, and its block trading attributes have been gradually weakened. The potential risks that follow have drawn the attention of regulatory authorities. Blackpool and its characteristics 1980s, the rapid development of computer technology in the United States, off-site electronic platform for loose disclosure of information, brokers to meet the needs of bulk transactions on the efficiency and confidentiality established