This is a case about fraud and deceit by one of the world's largest banks - NY Attorney General

BestEx Asia Ltd

BestEx Asia Ltd

This is a case about fraud and deceit by one of the world's largest banks - NY Attorney General. The biggest scandal yet involving a broker dark pool has broken with Barclays facing a lawsuit from the New York AG's office accusing it of favouring high-speed traders and falsifying marketing materials to hide how much HFT were buying and selling in their dark pool. This should raise alarm bells for large Australian investors who leave order execution in the hands of their brokers. We note: (1) Several brokers in Australia operate dark pools in which the largest participants are HFT. (2) The same brokers promote their dark pools to institutional clients as being among the largest, without disclosing that this is only because of the presence of HFT. (3) Many institutional clients remain unaware that their orders are being routed to their brokers dark pool instead of public markets. (VIEW LINK)


MORE ON



Contributor
BestEx Asia Ltd

BestEx is an innovative, broker neutral, buy-side dealing desk that enables investment managers to achieve best execution in multi-market environments.\r\n\r\nWe use technology to source liquidity and execute orders with the best possible outcomes...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.