Illustrator: Jinhwa Jang
The Big Take
Darker Than a Dark Pool? Welcome to Wall Street’s ‘Private Rooms’
A new kind of gated stock venue is emerging amid the historic shift of trading away from US public exchanges.
Wall Street’s infamous dark pools are getting even darker.
A decade after being engulfed by a controversy that culminated in multiple enforcement actions and a regulator clampdown, these off-exchange trading platforms are touting a way to buy and sell stocks that’s even more opaque.