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[$$] Citi To Pay $12.9 Million Related to “Dark Pool” Trading Violations

Citigroup Inc. will pay regulators $12.9 million to settle charges related to its operation of a so-called “dark pool” trading platform called Citi Match. The Securities and Exchange Commission said the Citi affiliate that marketed Citi Match misled users between at least December 2011 and June 2014 by informing them that high-frequency traders weren’t permitted to trade in the pool. Dark pools are private, off-exchange stock-trading venues that arrange transactions without broadcasting their users’ orders to the broader market.