The US electronic stock-trading business continues to retrench
Slammed by stricter regulatory enforcement and mediocre volume, the US electronic stock-trading business continues to retrench — and it’s taking down some high-profile stars.
LavaFlow agreed to pay the Securities and Exchange Commission $5m, including a $2.85m penalty, on charges it failed to protect sensitive information. And this past October, Wells Fargo said it was shuttering its “dark pool” alternative trading system (ATS).
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