(Bloomberg) -- Money managers and brokers shunned Barclays Plcs dark pool, and Chief Executive Officer Antony Jenkins pledged an urgent inquiry, after the bank was accused of lying to clients about high-frequency trading on the venue.
Deutsche Bank AG, Royal Bank of Canada, Sanford C. Bernstein & Co. and Investment Technology Group Inc. are among brokerages that disconnected from the Barclays LX platform after New York Attorney General Eric Schneiderman sued the bank yesterday, according to people with knowledge of the matter. Barclays falsely assured investors they would be protected from high-frequency traders while it simultaneously aided predatory tactics, Schneidermans office wrote in the complaint.
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