SEC Targets Island's Past
SPECIAL REPORT
WASHINGTON, D.C.--Instinet is apparently under US government investigation for possible price collusion on market-data rebates from its Island subsidiary to Island's former parent company, online discount broker Datek. Ameritrade completed its acquisition of Datek on Sept. 9.
The US Securities and Exchange Commission (SEC) has taken legal steps to obtain information from the Island ECN as part of an investigation into alleged violations of regulations affecting alternative trading systems (ATSs)
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