The SEC and New York State allege the banks misrepresented that they would keep high-frequency traders out of their alternative trading systems.
The SEC says ITG's Project Omega misused the confidential data of its "dark pool" subscribers to make trades.
After previously backing regulations that would move dark pool trades onto exchanges, Nasdaq OMX now says it wants to run the pools for banks.
Experts differ on whether changes in the equity markets are harming Corporate America. But CFOs can&spamp;rsquo;t ignore the potential consequences.
