黑池交易是指买卖双方透过交易所，例如港交所以外的平台进行的交易，也称为暗池交易，黑池交易的英文表达为dark pool trading。

黑池是一种为买卖双方匿名配对大宗股票交易的平台，主要由机构投资者参与买卖，运作并不透明，不会展示买卖盘价及报价人士的身份，也不会向公众披露已执行交易的详情。“黑池”是由投行或银行等营运商，替客户在港交所以外平台进行对盘买卖，令交易毋须曝光，由于这类交易多由机构投资者进行大手买卖，透明度低及难以监管，证监会忧散户在黑池交易的风险及公平性不足。黑池交易就是指买方和卖方对大宗股票交易指令进行匿名撮合成交，指令的价格及数量细节均不透露，以免对常规股市交易造成影响；换句话说，就是不通过交易所达成相互直接的股票交易，这是交易所之外的单子。黑池交易平台是在交投成交值清淡的市况下，为客户提供一种新的流动性来源。黑池交易也在港发展，惟是券商的内部系统，并不像新交所是次推出的Chi-East公开交易平台。主要是经纪行或银行的内部交易系统，当中的客户买卖盘会先经该行内部的黑池配对后，才会传送至交易市场。黑池交易占港股成交总额不足3%，暂时未对散户带来不利影响，但当局正密切监察黑池的发展。

2015年5月16日证监会决定禁止散户参与俗称“黑池”(dark pool) 的另类交易平台，新制度的修订于今年十二月一日起生效。证券界指，这有助降低市场风险，同时稳固港交所的市场垄断地位。

英文释义如下：

In finance, a dark pool (also black pool) is a private forum (alternative trading system or ATS) for trading securities, derivatives, and other financial instruments. Liquidity on these markets is called dark pool liquidity. The bulk of dark pool trades represent large trades by financial institutions that are offered away from public exchanges like the New York Stock Exchange and the NASDAQ, so that such trades remain confidential and outside the purview of the general investing public. The fragmentation of electronic trading platforms has allowed dark pools to be created, and they are normally accessed through crossing networks or directly among market participants via private contractual arrangements. Generally, dark pools are not available to the public, but in some cases, they may be accessed indirectly by retail investors and traders via retail brokers.

具体使用场景可参考如下双语例句：

关于“黑池”交易，香港跟美国和欧洲相比，“黑池”交易在亚洲整体(包括香港)的交易量相对较低。

Dark pool trading in Asia (including Hong Kong) is small compared with that in the United States and Europe.

为增加香港上市证券在黑池内交易后的透明度，香港联合交易所有限公司于2011年2月1日引进一项自愿申报要求。

To increase the post-trade transparency of Hong Kong-listed securities executed in dark pools, The Stock Exchange of Hong Kong Limited introduced on 1 February 2011 a voluntary flagging requirement.

据报，新加坡交易所与一所国际性的证券电子交易中心合作成立"黑池"交易平台，以供机构投资者对在亚太地区包括澳洲，香港及日本上市的股票以离岸交易形式进行大宗交易。

It has been reported that Singapore Exchange and an international electronic stock trading centre has jointly set up a "dark pool" trading platform for institutional investors to conduct block trading of stocks listed in the Asia-Pacific region, including Australia, Hong Kong and Japan, by way of offshore trading.

科技发展亦使隐蔽式交易更容易进 行，我指的隐蔽式交易是不经证券交易所进行的交易，例如“黑池”交易，其效率亦因电子科技发达而大大提高。

Technological advancement has also facilitated concealed transactions. By concealed transactions, I mean transactions not carried out through the securities firms, such as "dark pool" trading whose efficiency has been greatly enhanced by advances in electronic technology.