Alternative trading venues, such as dark pools, are allowed in a few countries in the Asian-Pacific region, including Hong Kong, Singapore and Japan. Some countries, such as Australia, are considering opening up to such venues. Sang Lee of Aite Group said the venues have captured roughly 1% to 2% of equity markets in Asia, and he predicted a sharp increase. "I would say that we are in a waiting period," Lee said. "Some of these markets are going to push forward, and built into our assumptions is that there will be new regulations over the next couple of years that will make it possible for [alternative trading systems] to grow in Asia."

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