MUCK GUINNESS : Announces
First Derivatives 500 jobs Newry - WATCH THIS SPACE
Financial software and consulting firm already employs around 900 staff in Co Down
Barclays is feeling fallout from the lawsuit that accused the British bank of secretly favoring high-speed traders while falsely telling clients they’d be protected from predatory trading practices.
Shares of London-based Barclays closed down nearly 7.4% at $14.55 in Thursday trading.
Investors appeared to anticipate that New York Attorney General Eric Schneiderman, whose office filed the lawsuit, would probably demand a large financial fine against Barclays as part of any resolution of the case.
Additionally, Deutsche Bank, Royal Bank of Canada and ITG are among major broker-dealers that have at least temporarily shut down their connections to the Barclays LX dark pool, according to a Wall Street Journal report.
“We take these allegations very seriously,” Mark Lane, a Barclays spokesman in New York, said Wednesday in the bank’s official response. “The integrity of the markets is a top priority of Barclays.”
Nonetheless, it’s not as if Barclays is any stranger to financial fines.
Great Britain’s Financial Conduct Authority hit the bank with a nearly $44 million penalty last month for attempted manipulation of the daily price “fix” at the London gold market.
Additionally, Barclays in 2012 agreed to a $453 million settlement of allegations by U.S. and British regulators that the bank attempted to manipulate the London Interbank Offered Rate. The financial benchmark, commonly known as Libor, is used to set the rates on trillions of dollars in mortgages, credit cards, many types of loans and some financial derivatives.
Until the New York lawsuit was filed, Barclays’ dark pool was ranked as the second-largest in the U.S., according to data compiled as of June 2 by the Financial Industry Regulatory Authority, Wall Street’s self-regulator.
Here’s a breakdown of the top 25 dark pools:
Name Total Shares Total Trades
CROS CREDIT SUISSE SECURITIES (USA) LLC 362,640,325 2,069,122
LATS BARCLAYS CAPITAL INC. 282,262,415 1,475,717
UBSA UBS SECURITIES LLC 241,699,171 1,727,713
MLIX MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 193,489,904 1,001,921
MSPL MORGAN STANLEY & CO. LLC 182,269,500 791,218
DBAX DEUTSCHE BANK SECURITIES INC. 173,025,100 1,082,282
SGMA GOLDMAN SACHS EXECUTION & CLEARING, L.P. 146,040,311 848,066
FLOW LAVAFLOW, INC. 132,234,566 701,324
KCGM KCG AMERICAS LLC 118,403,067 827,094
IEXG IEX SERVICES LLC 102,098,950 320,538
JPMX J.P. MORGAN SECURITIES LLC 99,560,644 411,541
ITGP ITG INC. 94,358,000 374,281
BIDS BIDS TRADING L.P. 90,612,400 213,356
ICBX INSTINET, LLC 69,414,104 286,401
EBXL LEVEL ATS 55,446,100 344,625
CXCX CITIGROUP GLOBAL MARKETS INC. 53,784,194 260,002
XSTM NATIONAL FINANCIAL SERVICES LLC 42,483,896 123,746
LTPL CREDIT SUISSE SECURITIES (USA) LLC 29,951,772 268,438
KCGB KCG AMERICAS LLC 29,191,810 276,562
NYFX CONVERGEX EXECUTION SOLUTIONS LLC 27,175,885 56,879
LQNT LIQUIDNET, INC. 25,937,100 641
MSTX MORGAN STANLEY & CO. LLC 24,958,500 157,657
APOG CITADEL SECURITIES LLC 24,913,727 153,321
DLTA DEALERWEB INC. 24,886,076 48
IATS INTERACTIVE BROKERS LLC 20,027,182 71,468
Source: Financial Industry Regulatory Authority