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New York attorney general takes deep dive into ‘dark pools’

New York attorney general takes deep dive into ‘dark pools’

The New York Attorney General’s sweeping investigation into the U.S. stock market will include whether trading centers known as “dark pools” are conducting themselves properly, an official said on Wednesday.

New York Attorney General Eric Schneiderman is seeking information from exchanges and alternative trading platforms about their relationships with high-frequency trading firms, as part of its probe into allegedly unfair trading practices on Wall Street, sources have previously told Reuters.

Broker-run trading systems known as dark pools, where participants are anonymous and trading information is hidden until after the trades are completed, are a key focus, said Chad Johnson, head of the agency’s Investor Protection Bureau.

“We remain highly interested in this area,” he said at a conference held by Sandler O’Neill and Partners.

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