Barclays is being sued in at least five federal lawsuits for showing preference to HFTs inside the bank's darkpool. Barclays is seeking to make sure a particular New York judge will oversee the case.
Barclays Plc (BARC) asked that a federal judge in New York handle claims it hid the role of high-frequency traders in its dark pool, saying the evidence in the case is “incredibly complex” and includes millions of trading records. Barclays, the U.K.’s second-biggest bank by assets, is being sued by institutional investors in at least five federal lawsuits claiming it cheated customers by giving preference to high-frequency traders on its alternative trading venue, Barclays LX. New York Attorney General Eric Schneiderman sued Barclays in state court in June.