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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barclays PLC    BARC   GB0031348658

BARCLAYS PLC

(BARC)
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Banks withdraw from Barclays' dark pool - FT

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06/26/2014 | 07:05pm EST
Raindrops are seen on the logo of a rental bicycle sponsored by Barclays in London

(Reuters) - Big banks have started pulling their business out of Barclays' dark pool, after the British bank was sued by New York’s top securities regulator for allegedly misleading institutional investors over its anonymous trading venue, The Financial times reported.

Deutsche Bank, Credit Suisse and Royal Bank of Canada, asset manager Alliance Bernstein were among the institutions that withdrew from Barclays’ dark pool on Thursday, the paper said. (http://on.ft.com/1liYksA)

Barclays said any drop in trading volumes at LX might be due to a technical glitch.

Goldman Sachs, Morgan Stanley and JPMorgan Chase & Co, were not sending orders to Barclays’ dark pool, the daily reported, citing people familiar with the companies.

The New York State attorney general's lawsuit alleges that Barclays promised to get the best possible prices for customers looking to buy or sell shares but instead took steps that maximized the bank's profits and executed nearly all of its customers' stock orders on LX instead of on exchanges or other venues that might have offered better prices.

Dark pools were created to allow investors to execute big trades without tipping off the market. But ever-larger volumes of trades have been shunted into dark pools and critics say their opacity makes markets less fair for other investors.

Deutsche Bank and Credit Suisse declined to comment. Royal Bank of Canada, Goldman Sachs, Morgan Stanley and JPMorgan Chase could not immediately be reached for comment.

(Reporting By Neha Dimri in Bangalore)

Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC 1.13% 173.44 Delayed Quote.-3.45%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.00% 0.7603 Delayed Quote.-1.17%
CREDIT SUISSE GROUP AG 1.03% 13.2 Delayed Quote.-0.31%
DEUTSCHE BANK AG 1.89% 7.829 Delayed Quote.13.18%
GOLDMAN SACHS GROUP INC. -1.49% 241.92 Delayed Quote.6.81%
MORGAN STANLEY -1.76% 54.55 Delayed Quote.8.63%
ROYAL BANK OF CANADA -0.46% 105.77 Delayed Quote.3.87%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) 0.02% 1.3142 Delayed Quote.1.08%
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Financials (GBP)
Sales 2019 21 571 M
EBIT 2019 7 834 M
Net income 2019 2 498 M
Debt 2019 -
Yield 2019 5,12%
P/E ratio 2019 12,5x
P/E ratio 2020 7,39x
Capi. / Sales2019 1,39x
Capi. / Sales2020 1,36x
Capitalization 30 037 M
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Technical analysis trends BARCLAYS PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 205,73  GBp
Last Close Price 173,44  GBp
Spread / Highest target 44,1%
Spread / Average Target 18,6%
Spread / Lowest Target -11,8%
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Managers
NameTitle
James Edward Staley Group Chief Executive Officer & Director
Taylor Wright Co-Head-US Equity & Managing Director
Nigel Paul Higgins Group Chairman
Paul Herbert Compton Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
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