Dark Pools: Crossfinder Tipster to Seek Whistleblower Award

Discussion in 'Wall St. News' started by InfoTech, Sep 22, 2015.

  1. InfoTech

    InfoTech


    http://www.marketwatch.com/story/wh...ool-says-hell-ask-sec-for-millions-2015-09-22

    Gates devised tests of buying and selling the same security in various dark pools or exchanges to see whether anyone was getting in front of his trades. They were, including in Credit Suisse’s dark pool, Crossfinder, which Gates said was the result of what is dubbed latency arbitrage, or the practice of taking advantage of slight delays in price dissemination.

    TFS Capital, for what it’s worth, is now a client of Credit Suisse’s Crossfinder.

    “This was a bigger issue four or five years ago,” Gates said, which he believes is a result of his and other efforts to bring attention to the issue. “Since then, the SEC really tightened the screws, and it’s got much better.”
     
  2. destriero

    destriero

    What the article fails to state it that Gates sent those emails AFTER the book came out.