The Current Account: Why is Barclays in Trouble Again?
All eyes are on Barclays this week after a US regulator slapped the British banking giant with a securities fraud lawsuit.
New York attorney Eric Schneiderman's lawsuit centres on claims that Barclays maximised profits by executing a bulk of transactions through HFT and on so-called "dark pools" - trading platforms that do not disclose trade or party details publicly until after the transaction is completed.
The practice takes place despite the fact clients could have got a better deal on regular exchanges.
He added that Barclays lied on marketing material to clients.
© Copyright IBTimes 2024. All rights reserved.
Join the Discussion