Citigroup Inc

Citigroup: The bank suggested the U.S. Securities and Exchange Commission cut the highest amount that can be levied to trade by at least two-thirds, according to a letter from Daniel Keegan, head of Americas equities at Citigroup. Most exchanges charge the maximum, 30 cents per 100 shares, leading traders to favor lower-cost dark pools, he wrote. His statement aligns Citigroup, which runs alternative trading platforms, with two of the biggest exchange operators, according to Business Week. More than 15 percent of U.S. equity volume takes place on dark pools, according to Tabb Group LLC. Group Inc. and Nasdaq OMX Group Inc., two of the three big U.S. stock exchange owners, have both advocated regulatory measures to lure trading off the systems. Accusations of wrongdoing on the private systems have intensified this year amid Michael Lewiss Flash Boys and a probe by New Yorks attorney general, who alleged Barclays Plc misled its dark-pool clients and Citigroup Inc. C:US , the third-biggest U.S. bank, told regulators they could steer more stock trading to public exchanges by making it more affordable. As part of a rule change that took effect in 2007, the SEC somewhat arbitrarily established a cap on access fees that can be charged to access liquidity on exchanges, Keegan wrote in an Aug. 7 letter posted on the regulators website. This cap should be revisited in light of todays market economics. (news.financializer.com). As reported in the news.