Barclays’ dark pool still reeling from New York legal accusations
Barclays’ private trading facility is still struggling to bounce back from claims in the US that it lied to investors, industry data showed yesterday.
The British bank is fighting the claims, arguing it did not mislead investors and that the New York attorney general has got his facts wrong.
Just 95.8m shares were traded on the Barclays LX platform in the week of 14 July, barely moving from the 94.2m in the previous seven days, figures from the Financial Industry Regulatory Authority (FINRA) showed.
In late June, before the allegations were made, 197m shares were traded on the facility.
Barclays’ dark pool was once the second largest such platform, behind Credit Suisse’ pool.
Now Barclays is in 13th place, when measuring by volume of shares traded. Credit Suisse’s pool remains in the top spot with 426m shares traded in the week of 14 July.
Rival Swiss bank UBS is in second place with 334.9m, and US bank Morgan Stanley is in third place with 222.3m traded in the week.