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Investment Technology to pay record fine for dark pool violations

It admits wrongdoing over allegations that it ran a secret trading desk that misused information about clients' orders

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The problem, according to the SEC, is Project Omega had an advantage over all other users of ITG's Posit dark pool: It knew about the trades customers wanted to place.

New York

INVESTMENT Technology Group Inc (ITG) agreed to pay a record fine for violations involving a dark pool and admitted wrongdoing over allegations that it ran a secret trading desk that misused information about clients' orders.

ITG will pay a total of US$20.3 million for

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