Compliance

Built to be examined.

Darkpools gives operators of non-displayed venues the records, controls and reporting data that regulation expects, generated from the same source of truth that matches and settles every trade.

Responsibility
The regulated activity stays with the operator
Records
Immutable and time-sequenced
Reporting
Generated from source data, not reconstructed
01

Who is responsible for what

Technology from Darkpools. Accountability with the operator.

Operating a non-displayed venue means working inside a regulatory framework. That framework applies to the institution that operates the venue, not to the software it runs on.

Darkpools is a technology provider. We are not a broker-dealer, exchange or ATS operator, and we do not trade, route orders on your behalf or hold client assets. Using our software does not by itself make a venue compliant. It gives you the records and controls you need to meet your own obligations, and a single source of truth to evidence them.

Division of responsibilityOverview
Darkpools providesThe operator remains responsible for
Matching and settlement softwareOperating the venue and holding the regulatory permissions
Complete, replayable records of every order and executionSurveillance policy and acting on alerts
Reporting data captured at the point of executionFiling reports and disclosures with regulators
Configurable controls and limitsDeciding which controls and limits to apply
02

Regulatory frameworks

The regimes the platform is built to support.

Reg ATS (United States)Order-handling records and the information needed for Form ATS-N reporting are generated directly from source data.
MiFID II and UK equivalentsSystematic internaliser obligations and transaction-reporting fields are captured at execution.
Best executionThe replayable order lifecycle evidences how each order was handled and executed, on request.
RecordkeepingImmutable, time-sequenced records can be retained to your regulatory schedule.
Market-abuse surveillanceFull order-lifecycle replay supports monitoring and examiner requests.

The exact outputs depend on the regime that applies to your venue, which we scope with you. This page is general information about our technology and is not legal or regulatory advice.

03

Records and audit

One source of truth, from order to settlement.

Replayable order lifecycle

Because the engine is deterministic, any execution can be replayed to show exactly how and why it happened.

Immutable records

Every state change is written once, in sequence, and cannot be altered afterwards.

Ready for examiners

Records can be produced on request for regulators, auditors and your own compliance team.

04

Security and data protection

Controls that keep your data where you want it.

Single-tenant by design

Your pool, keys and books are never shared with another institution.

Data residency

Deploy in the environment and region that match your jurisdiction and policy.

Access and accountability

Administrative actions are recorded in the same audit trail as trading activity.

The platform can run in your private cloud or on-premise, inside your own network boundary and under your own access controls. That keeps sensitive order and client data on your side of the line.

For the deployment options in full, see the platform page.

FAQ

Common questions

About compliance.

Does using Darkpools make our venue compliant?

No. Compliance is the responsibility of the institution that operates the venue. Darkpools provides the matching and settlement software, the records and the reporting data, which you use to meet your own obligations.

Is Darkpools a broker-dealer, exchange or ATS operator?

No. Darkpools provides technology only. It does not operate a venue, execute trades on its own account, route orders on behalf of clients or hold client assets.

Which regulations does the platform support?

It is built around the requirements of regimes such as Reg ATS in the United States and MiFID II in Europe, including recordkeeping, transaction reporting, best execution and surveillance. The outputs you need depend on the rules that apply to your venue, which we scope with you.

Can we produce records for a regulator?

Yes. Every order, execution and settlement state change is recorded in sequence, and any execution can be replayed, so records can be produced for regulators, auditors and your own compliance team on request.

Where is our data kept?

In the environment you choose. With a private VPC or on-premise deployment, data stays inside your own infrastructure and region.

Next

About Darkpools

Who we are, how Darkpools began and the team behind it.

About us

Talk to the team that builds it.

Tell us about your venue and your regulatory context, and we will arrange a technical briefing.

We only contact clients from @darkpools.co addresses. See our official channels.