Schneiderman said to investigate C Suisse over dark pool trading

Bad Bonus Pool

New York Attorney General Eric Schneiderman has launched an investigation into whether bank giant Credit Suisse misled investors about its 'dark pool' trading platform, The New York Post has learned.

The newspaper reports that the probe comes a month after Schneiderman sued Barclays for allegedly lying about the presence of predatory traders in its dark pool. The bank denied wrongdoing and has asked a judge to dismiss the suit.

Regulators are taking a closer look at dark pools — lightly regulated alternative trading systems — because of concerns that high-frequency traders are leveraging them to their advantage.

Credit Suisse is the operator of the largest bank dark pool in the US, accounting for about 14% of all trades, according to data from the Financial Industry Regulatory Authority.

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

Schneiderman probes Credit Suisse’s ‘dark pool’

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