A spokesman for the bank, which has extensive operations in the United States, said “the agreement will enable us to focus all of our efforts on serving our clients”.
According to the SEC, the company did not police its dark pool platform for “predatory trading” and also “misrepresented” the type of market data fed into it, including using a mix of direct and slower feeds.
Robert Cohen, co-chief of the Market Abuse Unit, said: “Barclays misrepresented its efforts to police its dark pool, overrode its surveillance tool, and misled its subscribers about data feeds at the very time that data feeds were an intense topic of interest.
“Investors deserve fair and equitable markets without this misbehaviour.”
Andrew Ceresney, director of the SEC’s Enforcement Division added: “Dark pools have a significant role in today’s equity marketplace, and the firms that run these venues must ensure that they do not make misstatements to subscribers about their material operations.
“These largest-ever penalties imposed in SEC cases involving two of the largest ATSs (alternative trading systems) show that firms pay a steep price when they mislead subscribers.”
Credit Suisse settled its case without admitting or denying the findings.