Dark pools to face SEC plan seeking more light on how they operate

Washington

DARK pools are about to be put on notice - time to go from black box to open book.

The US Securities and Exchange Commission is scheduled to vote on Wednesday on a proposal that would pull back the curtain on the private venues, which have faced complaints that they favour high-frequency traders over other investors. The plan would require that they disclose their rules of operation, including whether some traders get preferential treatment.