SEC Shuts Down MarketXT For Violations
SPECIAL REPORT
NEW YORK--The Securities and Exchange Commission (SEC) has revoked MarketXT’s right to operate as an electronic communications network (ECN) because it has failed to meet capital requirements to maintain broker/dealer status, according to a source familiar with the situation.
As a result, MarketXT has had to furlough 35 employees in technology and operations, and much of the sales staff have been let go, the source says.
The main reason for MarketXT’s financial woes appears to be that the ECN
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