The investigation concerns some features of the private trading venue that were discontinued two years ago, including “certain order types and disclosure practices,” the
UBS’s dark pool was the second-biggest by total U.S. shares traded in the week starting
UBS said it’s also among “dozens of defendants,” including broker dealers, exchanges, high-frequency trading firms and dark pool sponsors named in putative class actions pending in
Dark pools are alternative trading systems where transactions are concealed from the public. They were created as a haven for institutional investors seeking to trade large blocks of shares in secret, hoping to minimize their impact on prices so they can get a better deal on their trades.
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