Seeking Alpha

NY AG reportedly probing dark pools

  • Goldman Sachs (GS -0.2%), Barclays (BCS -1%), and Credit Suisse (CS -1.2%) are among the banks NY Attorney General Schneidermann has requested information from about their use of dark pools, reports Dow Jones.
  • Dark pools are systems set up by the banks to allow clients to trade large blocks of stock outside of the major exchanges.
  • Earlier this year, Goldman sent out checks to clients after discovering errors in trades in its Sigma X dark pool - the world's largest -  from back in 2011. It was also reported that Goldman was considering selling Sigma X, a move management has denied.
  • Previously: Goldman considers shuttering dark pool
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Comments (1)
  • SivBum
    , contributor
    Comments (2090) | Send Message
     
    It is about time to shutdown those dark pools that have enabled front running by those HFTs.
    9 May 2014, 01:35 PM Reply Like
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