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April 17, 2014

High-Speed Traders Said to Be Subpoenaed in N.Y. Probe

New York Attorney General Eric Schneiderman sent subpoenas to six high-frequency trading firms seeking information about special arrangements they have with exchanges and dark pools as well as their trading strategies, according to a person familiar with the matter.”

“Chopper Trading LLC, Jump Trading LLC and Tower Research Capital LLC are among the firms, according to the person, who asked to not be named because the details of the investigation haven’t been made public.”

“Matt Schrecengost, the chief operating officer of Chicago-based Jump Trading, and Mark Gorton, managing director of New York-based Tower Research, didn’t immediately return voicemail messages seeking comment. No official at Chicago-based Chopper Trading was immediately available.”

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Read full Bloomberg article here.

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