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Barclays' Dark Pool Goes Dark After Client Boycott

Tyler Durden's picture




 

Following yesterday's revelations that Barclays was raping its clients, maliciously misrepresenting and lying to them on a daily basis, who could have possibly foreseen the following development:. From Bloomberg:

  • BARCLAYS SAID TO LOSE DARK POOL TRADING CUSTOMERS AFTER SUIT
  • BARCLAYS SAID TO BE SHUNNED BY BERNSTEIN, VOYA AFTER SUIT

Furthermore, traders are getting notifications that routing to LX is now down, meaning the dark pool is now merely... dark.

But where will Citadel and TradeBot scalp and predate slow buyside orders now? Actually scratch that: since every other dark pool is the same, it will take them a few milliseconds to find an alternative venue where they can frontrun millions in shares in riskless scalps. Pardon, where they can continue to "provide liquidity."

 

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Thu, 06/26/2014 - 11:17 | 4897836 NotApplicable
NotApplicable's picture

Somebody peed in the pool!

Thu, 06/26/2014 - 11:24 | 4897877 max2205
max2205's picture

But will we close green today. ..hell yes I guess

Thu, 06/26/2014 - 12:01 | 4898088 NoDebt
NoDebt's picture

Little IEX, jumping up and down furiously on the couch, yelling at the TV:  "See!  SEE!!  We told you so!!  We TOLD YOU SO!!"

Thu, 06/26/2014 - 12:05 | 4898103 NoDebt
NoDebt's picture

Oh, and one more- Remember last month when Goldman got rid of their dark pool?  They knew.  They knew this shitstorm was coming, so they sold theirs right at the top.  "What?  Us?  No, we didn't have anything to do with such sordid dealings."

Well played, Goldman.  Another 10-bagger for the squid.  "And nobody goes to jail."

Thu, 06/26/2014 - 11:17 | 4897839 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

When dark pools flow red game is over.....

Thu, 06/26/2014 - 11:18 | 4897840 LawsofPhysics
LawsofPhysics's picture

As I have proposed earlier.  The "dark pools" and bankers of the world might just sit around the table and "call it even". All CDS holding and dark pools gone, "poof",  thier debt forgiven.  Yeah they might throw a few mid-management types to the guillotine, but that's it.  Unfortunately, your debt will not be forgiven...

Thu, 06/26/2014 - 11:18 | 4897846 buzzsaw99
buzzsaw99's picture

they'll just go get graped somewhere else

Thu, 06/26/2014 - 11:32 | 4897930 CrashisOptimistic
CrashisOptimistic's picture

Anyone notice how many billions in pseudo tax revenue the US has been generating by fining non US banks recently?

The EU should be retaliating soon.

Thu, 06/26/2014 - 11:47 | 4898004 dracos_ghost
dracos_ghost's picture

Uh huh, and with NIRP, they can get paid to pay their fines.

Thu, 06/26/2014 - 11:19 | 4897851 booboo
booboo's picture

US Just Us Department has a new bull dyke 2nd in command and the she beast is shaking down all foreign banksters. The new windfall fines will be used to build the new stasi. "Warp Speed Mr Zulu"

Thu, 06/26/2014 - 11:25 | 4897879 mayhem_korner
mayhem_korner's picture

 

 

Can the 'she beast' be suicided, or does it have immunity? 

Thu, 06/26/2014 - 11:20 | 4897857 RaceToTheBottom
RaceToTheBottom's picture

The whole industry is nothing but a den of thieves

Thu, 06/26/2014 - 11:32 | 4897928 DontGive
DontGive's picture

I think we need a new saying for that. Not much of a den these days, they operate in the open.

Thu, 06/26/2014 - 11:31 | 4897924 MsCreant
MsCreant's picture

There are a lot of people out there who think they are wealthy, who are not.

Thu, 06/26/2014 - 11:45 | 4898001 Canucklehead
Canucklehead's picture

That is true.  Adding to that, there are a lot of people out there who think they are smart, who are not.

Thu, 06/26/2014 - 12:48 | 4898306 Jack Sheet
Jack Sheet's picture

the ones who don't drink diamonds in their martini instead of ice

Thu, 06/26/2014 - 11:33 | 4897942 madcows
madcows's picture

I am shocked, I say.  Shocked and Dismayed.

sincerely,

jamie dimon, et al.

Thu, 06/26/2014 - 12:13 | 4897965 madcows
madcows's picture

I'm sure they'll just pay their fine, I mean entrance fee, and no one will go to jail.  jail is only for pot smokers and murderers.  Now, serial financial rapists... well, they get invited to political dinners.  they're just misunderstood.  really, they're doing god's work.

Thu, 06/26/2014 - 11:41 | 4897977 SheepDog-One
SheepDog-One's picture

Looks like another WHEEL fell off, huh Maverick??

Thu, 06/26/2014 - 11:48 | 4898009 Jack Sheet
Jack Sheet's picture

For all we know any online brokerage account is suspect. No wonder Jim Sinclair recommends demanding the share certificates.

Thu, 06/26/2014 - 11:52 | 4898043 MsCreant
MsCreant's picture

The share certificate is paper too, yes?

Thu, 06/26/2014 - 12:48 | 4898313 Jack Sheet
Jack Sheet's picture

paper as opposed to electrons, but I get your drift.

Thu, 06/26/2014 - 11:49 | 4898017 venturen
venturen's picture

amazing how honest JP Morgan, Citi, BOA and Goldman are....why do they just keep catching foriegn banks. /SARC!

Thu, 06/26/2014 - 12:23 | 4898196 starman
starman's picture

the financial crises will be blamed on any but a US entity!

Thu, 06/26/2014 - 12:50 | 4898319 AGoldhamster
AGoldhamster's picture

Free capital markets ... the holy mantra of the US, defending it like it is a part of the constitution.

While in fact it is ==> markets free of regulations/regulators for the banks that can do whatever they want.

 

But the sheeple, here and everywhere else in the US and UK will continue to preach and insist on: free markets are the holy grail.

 

I say: turn down each and every bank and ship all their CEOs and managers and the whole gov and congress into exile - i.e. into Ukraine or Syria or Iran or North Korea.

For accounting establish a computer owned by some public institution.

And then maybe there's again a chance for a free market. In any other case all this will continue and just get worse. As this mafia and their criminal activities in broad daylight, known to all and everybody, is quite obviously completely out of control. While Obozo plays another round of golf and hsi buddies CFTC and SEC have another round of porn - in Sodom and Gomorrah.

While the sheeple continue to be just that - dumb sheeple.

Thu, 06/26/2014 - 13:49 | 4898626 Bow Tie
Bow Tie's picture

winter is coming.

Thu, 06/26/2014 - 15:15 | 4899169 Jano
Jano's picture

Am very surprised, that there are so many morons , who carrry their money to a bank.

In the moment, when you pass it over, it DOES NOT BELONG TO YOU.

You have voluntarily given the money away and the bank will decide, if and when the money will be handed back. At least this is the law in the EU. 

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