JPMorgan the biggest beneficiary of dark pool trading

Jamie Dimon

JPMorgan head honcho Jamie Dimon might want to send the attorney general a thank-you card.

The New York Post reports that the Wall Street bank has been the biggest beneficiary among the largest 'dark pool' operators after New York AG Eric Schneiderman hit Barclays with a lawsuit last month, alleging the bank rigged its own trading platform.

JPMorgan’s dark pool — which, like other less-regulated platforms, matches buyers and sellers anonymously — was seventh-largest in the US during the week of June 30, up from 11th place just three weeks before, according to the most recent data from the Financial Industry Regulatory Authority.

Barclays’ biggest platform, LX, fell from second place to 12th during that same period, losing more than 7 percentage points of market share amid the damaging allegations, according to the Finra data.

Last month, Schneiderman accused Barclays of misleading investors about the extent of predatory high-frequency traders lurking in its dark pool, making them easy prey.

To access the complete New York Post article hit the link below:

JPMorgan is the biggest beneficiary of ‘dark pool’ operators

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