Former NYSE CEO Thain Says Stock Dark Pools Should Be Closed
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CIT Group Inc. Chief Executive Officer John Thain, the former head of the New York Stock Exchange, said there’s too much fragmentation and insufficient transparency in the stock market.
“Dark pools” that allow for trading of stocks outside of exchanges should be eliminated, Thain, 58, said in an interview with Erik Schatzker and Stephanie Ruhle on Bloomberg Television’s “Market Makers.” “The biggest problem is the fragmentation, you can trade stocks in 50 different places.”