{"id":1472,"date":"2014-06-26T14:53:44","date_gmt":"2014-06-26T14:53:44","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/06\/ny_sues_barclays_over_alleged"},"modified":"2022-03-11T13:12:12","modified_gmt":"2022-03-11T19:12:12","slug":"ny-sues-barclays-over-alleged","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ny-sues-barclays-over-alleged\/","title":{"rendered":"NY Sues Barclays Over Alleged High Speed Trading Favors in Dark Pool"},"content":{"rendered":"

\t\t\t\tNew York Attorney General Eric Schneiderman has filed a securities fraud lawsuit against Barclays (BARC) Plc. accusing the British bank of lying about giving preference to high-frequency traders. The state contends that Barclays took part in fraudulent activity related to a dark pool. The British-based bank has 20 days to respond to the securities fraud charges.<\/p>\n

Financial Industry Regulatory Authority data says that for the first week of June 2014, LX was the number two biggest alternative trading system in the United States. According to the high frequency trading case, LX, which is Barclays’ dark pool, favors computer-driven firms that can weave their way through the market at super fast speeds yet downplays how much these high-frequency traders use the venue. <\/p>\n

Schneiderman says that the bank falsely depicted the way it routes the orders of clients and claimed to protect them from high-speed firms, when really the dark pool was run to the advantage of these traders. He claims that Barclays even specifically sought to bring in high-speed traders to LX, giving them preferential treatment over others by providing them with details about the way the dark pool is run.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

New York Attorney General Eric Schneiderman has filed a securities fraud lawsuit against Barclays (BARC) Plc. accusing the British bank of lying about giving preference to high-frequency traders. The state contends that Barclays took part in fraudulent activity related to a dark pool. The British-based bank has 20 days to respond to the securities fraud […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3756,4041,3752],"tags":[],"class_list":["post-1472","post","type-post","status-publish","format-standard","hentry","category-barclays-capital","category-dark-pools","category-financial-firms"],"yoast_head":"\nNY Sues Barclays Over Alleged High Speed Trading Favors in Dark Pool — Investor Lawyers Blog — June 26, 2014<\/title>\n<meta name=\"description\" content=\"New York Attorney General Eric Schneiderman has filed a securities fraud lawsuit against Barclays (BARC) Plc. accusing the British bank of lying about — June 26, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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