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Market-maker claims venue used triangular arb tool to trade before users
XTX Markets has demanded Currenex disclose details of a tool it claims allowed the venue to execute its own triangular arbitrage trades ahead of other users, as part of its ongoing class action against the State Street-owned venue.
State Street and Currenex are accused of granting preferential last look rights to Goldman Sachs and HC Technologies while enabling them to jump the queue on its order book during the early 2000s. XTX argues that had it been aware of the alleged practices, it would not
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