Exchanges Get $5 Billion High-Frequency Trading Suit Tossed (3)

Nasdaq Inc., Cboe Global Markets Inc. and Intercontinental Exchange Inc. won the dismissal of a $5 billion lawsuit alleging they gave unfair advantages to high-frequency traders.

U.S District Judge Jesse Furman on Monday threw out the proposed class action lawsuit filed by plaintiffs who claimed policies favoring HFT produced high fees for the exchanges but caused other traders $1 billion in losses each year for five years.

The judge said the plaintiffs failed to present evidence to show they suffered even one trading loss tied to the exchanges’ alleged illegal conduct. Their only evidence was contained in reports by ...