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Citi says Alpari (US) was aware of Last Look practices
Citi notes that Alpari (US) was founded by former executives of Currenex – one of the ECNs alleged to have implemented Last Look, and from at least May 2013 Alpari (US) sent Citi monthly statistics showing that it was fully aware that thousands of its trades were rejected each month. Further to FinanceFeeds’ report about Citigroup Inc (NYSE:C) and other major banks targeted in a “Last Look” case launched by now-defunct Alpari (US), Citi has voiced its intentions to oppose the action brought by the broker. In a court filing, dated September 5, 2017, Citi notes that it plans to file a motion to dismiss the ... (full story)