Suit Accuses NYSE Of Antitrust Violations

Law360, New York (June 20, 2007, 12:00 AM EDT) -- The New York Stock Exchange exploited its control over trading systems by manipulating trading and colluding to fix the prices of execution services, according to a recently filed lawsuit.

The suit, filed on behalf of Sea Carriers LP earlier this month but made public on Thursday, accuses the exchange of engaging in anti-competitive behavior involving the Super Designated Order Turnaround System, an electronic trading system that facilitates market and limit orders. The plaintiffs are seeking class action status.

The complaint claims that “during the class period,...
To view the full article, register now.