A simple link would be nice. http://www.cetusnews.com/business/B...Competition-in-Stock-Lending-.H1ZPBSteLG.html
Seems you need an account with P.A.C.E.R. https://www.pacermonitor.com/public/case/23590125/QS_Holdco_Inc_v_Bank_Of_America_Corporation_et_al https://ecf.nysd.uscourts.gov/cgi-bin/DktRpt.pl?487560
It was posted in another thread: https://www.elitetrader.com/et/threads/pre-trial-conference-set-for-us-stock-loan-case.317049
A new lawsuit was filed today by a second law firm. The first was filed last fall with the plaintiffs being 3 pension funds. That complaint was amended a few months later and an additional pension fund as well as a hedge fund were added. The complaint today was filed by QS Holdco Inc which was the parent company of Quadriserv which attempted to bring their AQS platform into the Sec Lending market. The two complaints are very similar in narrative and form.
Looks like IB was one of the good guys - 110. AQS also garnered the support of, among others, one of the largest lenders of stock (Barclays Global Investors CGI), one of the largest borrowers of stock (the quantitative hedge fund Renaissance Technologies), the oldest venture capital fund in the country (Bessemer Ventures), one of the largest exchanges in the world (Deutsche Bourse, through its Eurex AG and International Securities Exchange subsidiaries), and two of the largest market-makers (Susquehanna and Interactive Brokers). AQS also obtained a commitment from SunGard to connect its industry standard back end system (Loanet), which was used by over 250 broker dealers.
Any lawyers here? Anyone know if the SEC will try to issue penalties for this conduct at the big Wall Street firms? Or is it just a matter for the Antitrust Division at the USDOJ?