ITG's $20.3 million Settlement With SEC Sets Record For an ATS

The broker agreed to settle on charges regarding the operation of a secret trading desk and misuse of confidential trading information of dark pool subscribers.

us-sec
SEC headquarters in Washington, DC.

According to an SEC release, an investigation by the regulators found that ITG operated an undisclosed proprietary trading desk known as "Project Omega," despite advertising itself as an agency-only broker.

Project Omega accessed live feeds of order and execution information of subscribers of its dark pool and used that information to implement high-frequency algorithmic trading strategies, one of which traded against subscribers of ITG's dark pool Posit.

ITG has admitted to wrongdoing and will

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: