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The SEC is charging that the execution broker ran a secret trading desk and used the confidential trading information of dark pool subscribers for its own benefit.
The SEC reports that NewYork City-based ITG Inc., an execution broker and research provider, and its AlterNet Securities affiliate have agreed to pay $20.3 million to settle charges that they operated a secret trading desk and misused the confidential trading information of dark pool subscribers. ITG agreed to admit wrongdoing and pay disgorgement of $2,081,034...
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