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Aug

09

This Broker Fought the Flash Boys and Got in Trouble for It

By Tony Seruga

ITG failed to disclose dark-pool speed bump, an SEC violation
It’s the third time in three years ITG has run afoul of SEC

Investment Technology Group Inc. maybe should’ve worked with Michael Lewis, too.

The New York-based brokerage said Wednesday that it faces a third Securities and Exchange Commission fine in three years. Part of the latest violation flips the script on bad behavior in the U.S. stock market: ITG got in trouble for not disclosing that, in the aftermath of Lewis’s “Flash Boys,” it introduced a speed bump on its Posit dark pool roughly similar to the one glorified by the author in his 2014 book on high-frequency traders…

This Broker Fought the Flash Boys and Got in Trouble for It

Categories : Finance

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