Reuters: Regulatory News: Dark pool settles SEC charges over failing to protect data

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Dark pool settles SEC charges over failing to protect data Oct 3rd 2012, 15:00 WASHINGTON | Wed Oct 3, 2012 11:00am EDT WASHINGTON Oct 3 (Reuters) - Boston-based dark pool operator eBX LLC on Wednesday agreed to pay an $800,000 penalty to settle civil charges that it had failed to protect its subscribers' confidential trading information. This marks the latest enforcement action by the Securities and Exchange Commission against a "dark pool" - a type of alternative trading system that lets investors anonymously trade larger blocks of stock without tipping their hand to the broader market. The SEC alleged that eBX erroneously told its users that their buy and sell orders would not be shared outside the company, but an outside technology firm was allowed to use the data for its own business interests.

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