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New York prosecutor probes high-speed trading, source tells Reuters

Stockhouse Editorial
1 Comment| April 16, 2014

Reuters News Service is reporting that The New York attorney general is probing more than half a dozen high-speed trading firms, as part of his wide-ranging probe into alleged unfair technology advances on Wall Street.

Reuters said the source of this information is a person familiar with the matter.

Attorney General Eric Schneiderman’s office is seeking information on special relationships between exchanges and so-called dark pools, platforms where large trades take place out of sight of the rest of the market, the report said.

The office had sent out subpoenas to firms including Tower Research Capital LLC, Chopper Trading LLC and Jump Trading LLC, the source told Reuters Wednesday.

The firms apparently could not immediately be reached for comment and, and a spokesman for the Principal Traders Group, an industry association, declined to comment.

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Anyone who believes the stock markets in north America are transparent and fair are really naïve. It is anything but.... dark pools, naked shorting, insider trading, front running trading programs- the list goes on and on.
4.5 stars
April 17, 2014
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