Barclays ( British bank ) accused of supporting high-frequency traders

Barclays ( British bank ) accused of supporting high-frequency traders

British bank

Attorney General of New York, Eric Schneiderman, filed a civil lawsuit against the British bank, claiming that his darkpuly – “total disregard for the investors in terms of permanent fraud and deceit.”
Darkpuly – private trading platform, which allowed trade large blocks of securities. They enable companies to enter into an anonymous transaction.

Barclays accused that he too has increased its market share darkpulov through a series of false statements, addressed to his clients and investors as to how and in whose favor they operate.

“Darkpuly bank swarming” predators “who are there at the invitation Barclays,» – Schneiderman claims.

In addition, the British bank was accused of publishing false advertising materials, which created a misconception about the extent and nature of high-frequency trading in its darkpulah.

“I always liked the idea that our work – is transparent, and have the opportunity to act on their own, by common consent,” – said one of the managers of the British bank.

“I believe that the reliability (data) is not as important as the ultimate goal,” consists in the fact, to show that the bank monitors the activities of its darkpula added another.

Head of the Barclays Equity Trading stressed that some traders believe our darkpul “dangerous pit” and “we are free in their actions, trying to take it under control.”

According to Schneiderman Barclays violated the following rules:

• The Bank never forbade traders to participate in its darkpule, no matter how “predatory” was his work;

• Bank did not regularly updated ratings high trading companies, which are displayed in the profiles of liquidity.

• The British bank “cheat” the ratings of some liquidity profiles – in particular their own trading platforms, participating in high-frequency trading, providing a “safe” rating traders, which otherwise would have ranked to “aggressive.”