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Dark Pools Confront More Transparent Future Amid Threats

Whether they like it or not, banks are opening up their dark pools, the private venues that host 17 percent of trading in the $24 trillion U.S. stock market.

Off-exchange markets accounting for more than 40 percent of dark-pool volume have publicly disclosed rules of operation that were previously hidden. They’re taking the step amid New York Attorney General Eric Schneiderman’s accusation that Barclays Plc misled clients about the presence of high-frequency traders in its private stock market.