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Maybe Dark Pool Clients Like It When Barclays (Allegedly!) Rips Them Off

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Or something.

Barclays saw the volume of U.S. shares traded at its dark pool rise to the highest since it was sued by New York for allegedly lying to customers of the venue. About 106 million U.S. shares were traded in the private trading platform in the week of July 28, up 21 percent from about 87.6 million in the previous week, according to data from the Financial Industry Regulatory Authority. That’s the most since 312 million shares were traded in the week of June 23. Britain’s second-largest bank is fighting allegations by New York Attorney General Eric Schneiderman that it falsified marketing materials to hide the presence of high-frequency traders at what used to be Wall Street’s second-largest dark pool. The bank has challenged Schneiderman’s June 25 complaint, saying it’s based on “clear and substantial factual errors.”

Barclays Dark Pool Trading Volume at Highest Since Suit [Bloomberg]


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