A New York judge has dismissed investor lawsuits against Barclays and a host of exchanges by rejecting claims that the bank rigged its "dark pool" trading venue in favour of high-frequency traders. This is a boost for Barclays, which has been hit by a number of big legal settlements recently including a $2.4bn penalty in May for manipulating foreign exchange rates. Additionally, Barclays may feel better positioned now to take a harder line in a dispute with the US attorney-general, who is also suing the bank over 'dark pools'.
A US judge has dismissed investor lawsuits against Barclays and a host of exchanges by rejecting claims that the bank rigged its "dark pool" trading venue in favour of high-frequency traders. This is a boost for Barclays, which has been hit by a number of big legal settlements recently including a $2.4bn penalty in May for manipulating foreign exchange rates. Additionally, Barclays may feel better positioned now to take a harder line in a dispute with the New York attorney-general, who is also suing the bank over 'dark pools'.