Tuesday, April 9, 2013

Exchanges Moving to Curb Private Trades

The CEOs of the three largest stock exchanges are joining forces for the first time to push regulators to rein in the increasing amount of trading that is moving off public exchanges and onto platforms like so-called dark pools.

The leaders of the New York Stock Exchange, Nasdaq and BATS Global Markets, the third-largest exchange operator, are planning to meet on Tuesday with officials of the Securities and Exchange Commission, people briefed on the meeting told Dealbook. The officials will be pushing regulators to step up oversight of private trading platforms like so-called dark pools, which are generally owned by banks and allow investors to trade out of the public eye….

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