Dark pools are "dark" or non-displayed in order to not disclose information about the trader's identity or, in varying degrees, the order information.
The information on which a trader based his decisions was scattered across a number of databases.
The FBI's Los Angeles office is investigating allegations that a former KPMG senior partner passed inside information to a share trader.
BBC: KPMG quits audit roles over insider trading allegations
The trader would collect information from here and there, collate and analyze it, and then make a trade.
How will a professional trader use this information?
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Second, Whitman seemed to be a diligent trader going about gathering information from varied sources.
FORBES: Doug Whitman Concludes Testimony In His Own Defense, Here's a Prediction On Verdict
The broker-dealers are required to maintain transaction records for each large trader and report that information to the SEC upon request.
FORBES: New Large Trader Rules Adopted; SEC Hopes To Better Monitor High-Frequency Trading
David Pykon, a New York hedge-fund trader, says he was given conflicting information by different American Airlines supervisors on daily expenses after his bag was lost on a Thanksgiving trip to Dallas last year.
In other words, the trader asked cash brokers to provide false market information to Libor submitters at other banks that would cause them to submit rates one way or another.
FORBES: Libor Scandal Just Took A Nasty Turn, Collusion Findings Should Make Banks Very Nervous
Not surprisingly, that FBI item points you yet another press release from the United States Attorney for the District of New Jersey: Attorney and Trader Arrested, Charged with Trading on Inside Information Stolen from Three Preeminent Law Firms.
FORBES: SEC Announces Settlement of $32 Million Insider Trading Case
Even with full information, early markets did not always do what a modern trader would expect.
ECONOMIST: What did early 19th-century literary characters live on?
What our trader there is pointing out is the mechanism by which markets efficiently process this information.
FORBES: Financial Traders: Enforcers of the Efficient Markets Hypothesis
She was not a trader but instead worked in a clerical function that provided her with just enough information to know a bit about the industry.
For more information and analysis from Jeffrey Hirsch, and to learn more about the Almanac Investor newsletter and the Stock Trader's Almanac, click here .
Under EEJ-Net, a UK consumer who, for example, had a claim against a trader in another EU member state would be able to approach the UK clearing house, which would obtain information from its opposite number in the other country about any suitable out of court scheme operating there.
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