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  • Citigroup to Pay $12 Million Over Accusations It Misled Trading Customers

    From nytimes.com

    Citigroup agreed to pay more than $12 million to settle a regulators claims that it misled investors who thought they were paying a premium to keep their trading activity shielded from interference by high-frequency traders, the Securities and Exchange Commission has announced. In a civil action filed Friday, the S.E.C. said Citigroup had let two high-frequency trading entities have access to a trading venue called Citi Match, which it had billed as a safe space free of rapid-fire, computer-driven traders. The agency said the presence of the high-frequency traders might have translated into higher prices paid by its other customers. ... (full story)