Are the lights going out for Barclays' investment bank?

My latest post at Forbes looks at the implications for Barclays and for the whole financial industry of the latest in a long line of lawsuits.

A few weeks ago, following awful trading results, much of Barclays’ FICC business was consigned to the outer darkness – placed in Barclays’ internal “bad bank” for eventual sale or wind-up. Barclays’ investment bank was to be reduced to a customer service business around an equities trading core – the former Lehman Brothers equities business.
But now that equities trading core has itself been dealt a major blow. The New York Attorney General has filed a lawsuit against Barclays for misleading clients regarding the presence and activities of HFT traders in its so-called “dark pool”, Barclays LX.
Read on here.



Popular posts from this blog

The sinking of Voyager

What was the real reason for the Bank of England's gilt market intervention?

The FTX-Alameda nexus