What Barclays is accused of

“Barclays grew its dark pool by telling investors they were diving into safe waters. According to the lawsuit, Barclays’ dark pool was full of predators – there at Barclays’ invitation,” he said.

The New York Attorney General's office claimed Barclays "has never prohibited any trader from participating in its dark pool, regardless of how predatory its activity was determined to be; did not regularly update the ratings of high-frequency trading firms monitored by Liquidity Profiling; and assigned safe ratings to traders that were otherwise determined to be toxic".

3) High-frequency traders

The attorney general's office has claimed that Barclays favours the predatory high-frequency traders in its dark pool. It also allegedly gives these traders advantages over other investors. The British bank "falsely underrepresented the concentration of aggressive high-frequency trading in its dark pool; failed to provide many of the benefits marketed with the Liquidity Profiling service; and favours its own dark pool when routing client orders to trading venues".

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