Bloomberg Law
March 13, 2020, 9:30 AM

Allston Facing Justice Department Manipulative Trading Probe

Lydia Beyoud
Lydia Beyoud
Fintech & Regtech Reporter
Jacob Rund
Jacob Rund
Matt Robinson, Bloomberg News

High-frequency trading firm Allston Trading LLC is the target of a U.S. Justice Department criminal probe into possible market manipulation activity, according to a source familiar with the matter.

An Allston spokesman said the company has “received requests for information from the government and have cooperated with such requests.”

“We have not been accused of any illegal conduct arising from those requests, and it would be wrong to draw any inference to that effect from the mere fact that the government is conducting a review,” the spokesman said in an emailed statement. “It is our understanding that the government is ...

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