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From the Archives: Shedding Light on Dark Pools

Posted by Larry Doyle on June 27th, 2014 12:42 PM |

In light of the recent legal action brought by NY AG Eric Schneiderman against Barclays, I thought it might be beneficial to rerun a commentary that I posted here on October 20, 2009.

Ponder that date for a minute. The issues exposed in the suit brought against Barclays are not new developments. 

Think of the theft and corruption that has transpired within these dark pools and elsewhere in the last 5 years, if not much longer than that, given that our financial regulators are ‘in bed with Wall Street.’  Some of my assertions expressed in this post have been shown to be more wishful thinking than reality.  

Kudos to Joe Saluzzi once again. While a number of people in the markets have been pushing for increased oversight of high frequency trading, in my opinion, nobody deserves more credit than Joe Saluzzi of Themis Trading. (more…)

Barclays Dark Pool Lawsuit and the ‘In Bed with Wall Street Conspiracy’

Posted by Larry Doyle on June 27th, 2014 9:49 AM |

The lawsuit filed by New York Attorney General Eric Schneiderman against Barclays for ‘pernicious fraud’ in the operation of its dark pool sent shock waves through Wall Street yesterday.

The equity valuations for a number of large Wall Street banks declined significantly under the premise that this lawsuit will impact their own business operations in a negative fashion.

Beyond that, though, many might think serious allegations of lying, blatant misrepresentations, fraud, self-dealing, predatory practices aka high frequency trading, investor abuse, and the like mean one thing: just another day on Wall Street.

Let’s play hardball today and navigate a little deeper. (more…)






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