SEC Enforcement Spotlight – ITG Pays Over $20 Million To Settle Charges Related To Its “Dark Pool”
By Molly Knobler
Brokerage company ITG, Inc. and its affiliate AlterNet Securities will pay $20.3 million to settle charges that they operated a secret trading desk and misused the confidential trading information of dark pool subscribers. See SEC Press Release
In 1987, ITG created POSIT, an alternative trading system or “dark pool,” for subscribers such as asset managers, broker-dealers, and...