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Articles Posted in electronic liquidity partners

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“Where’s My Order?” Apparently, Merrill Lynch Customers Had No Idea: Merrill Lynch Agrees to Pay $42 Million Settlement For Allegedly Re-Rerouting Customer Orders To Electronic Platforms And Creating False Reports

The SEC settlement indicates that Merrill Lynch sent millions of dollars in customer orders to other broker-dealers for execution while purposely concealing their activity as part of their so-called “masking.” practice. For five years, Merrill Lynch had routed some orders to broker-dealers referred to as “ELP”s, or “Electronic Liquidity Partners.”…

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