[andrew1]

They're not shafting anyone, no one will be obliged to trade on this market. People are only going to trade on it if they believe they'll gain some advantage through doing it - so conversely you could argue that by offering this service Credit Suisse are doing their customers a favour.

[borism]

dear god, how tired I am of this "no one will be obliged" argument!

no one is obliged to have an iphone or credit card too. that doesn't mean that a lot of people can't have them, and the fact that they got them voluntarily (or more likely trough carefully crafted advertisement) doesn't mean that companies providing them can now do as they wish with their customers!

believe they'll gain some advantage through doing it - so conversely you could argue that by offering this service Credit Suisse are doing their customers a favour

you're doing your customers a favor when you're actually giving them some advantage, not making them believe in you doing so.

[andrew1]

I'm not really sure what you're talking about.

A market participant will choose which exchange to execute a trade on based on their analysis of those exchanges. If for a particular trade they decide that out of all the exchanges, darkpools and this new lightpool available to them that the exchange that is most suited to that order is the lightpool, then they'll probably route it there. What do you expect them to do? If you're going to buy or sell something then there's an associated cost to doing that whether you do it on the NYSE, in a darkpool, or in this new lightpool.

Credit Suisse don't 'own' any customers, people who trade on this exchange will have no obligation to trade there, it sounds like you think that there are people who are forced to trade through Credit Suisse and so will be forced to use an exchange run by Credit Suisse. That is not the case. If they don't like what is on offer at Credit Suisse then they can trade directly in a market, or they can use another broker.