ITG Pays $12 Million Fine to Settle SEC Probe into Its Dark Pool
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ITG Pays $12 Million Fine to Settle SEC Probe into Its Dark Pool
ITG (NYSE:ITG), an independent execution broker and financial technology provider, was ordered to pay $12 million by U.S. regulators for misleading users of a “dark pool” operated by one of its affiliates, AlterNet Securities Inc.
The alleged violations occurred over various periods, the longest ranging from 2009 to late 2016, SEC said. As part of the settlement, the broker-dealer will neither admit nor deny the allegations.
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In one case, SEC’s investigation focused on allowing high-speed traders to interact with investor orders in the dark pool. In another, it looked at how confidential client-trading information was ... (read more)
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