Plastic2Oil Inc (PTOI)

[P2O I'm from MO]

Trades executed in dark pools do not report data back to the market and therefore do not affect prices listed on exchanges.

Bullshit. If they are not reported how is the statistic of 50% derived? If not reported how can they be part of the total?

The confused theory being offered is that *all* data reported on FINRA's ATS weekly
report is due to 'dark pools' when in reality it is not. Any entity providing a
displayed quotation on an equity is, by definition, NOT 'dark'. OTC markets is therefore
not a 'dark pool', despite what *some* choose to label as proof of the boogeyman
manipulating their favorite *legit* stock of the month.



There are 13 national exchanges that trade NMS stocks. In addition to these traditional
trading venues there are 44 operational ATSs that transact in NMS stocks; three of these
were classified as ECNs.

The 44 operational equity ATSs represent 35 distinct firms, some of which operate multiple ATSs.
26 of these firms are represented in my ATS data sample. Three ATSs operate as electronic
communications networks (ECNs), which display quotations in NMS stocks in the national market
system. However, a majority of ATSs that trade NMS stocks do not display quotations.
These ATSs are colloquially known as “dark pools,” although some of them may not be completely
dark, because they may provide information about orders in their systems to select market
participants but not to the general public.

http://www.sec.gov/divisions/riskfin/whitepapers/alternative-trading-systems-10-2013.pdf

It should also be noted that this part is CONveniently overlooked in *those* weekly "dark pool"
volume posts.....but why let facts get in the way of a(nother) good conspiracy theory.



Ketchum: Finra May Boost Oversight Of Off-Exchange Trading
MAY 19, 2014 • TED KNUTSON

Financial Industry Regulatory Authority Chairman and Chief Executive Officer Richard Ketchum
said Monday the agency will consider mandating additional transparency for a large amount of
trading that occurs away from exchanges.

He said this move, which would not apply to trading in private forums called dark pools, would
come on the heels of Finra’s first reports later this month on the volume of individual stocks
traded on alternative trading systems. Ketchum added Finra is supporting the SEC’s work in
enhancing the openness of off-exchange trading.

He said action is needed by the SEC on high frequency trading, but those actions have to be
based on sound information.

Ketchum noted Finra has more than 170 investigations open on abusive algorithms and deficient
order controls.

In speaking at the conference, Ketchum said progress is being made at restoring investor confidence
and added his voice to that of SEC Chairman Mary Jo White declaring “the markets aren’t rigged.”

“The equity and options surveillance operated by Finra and the exchanges never has been more
focused or effective at identifying manipulation or disruptive trading activity,” he said.

Ketchum and other leaders in the securities industry have come to the vocal defense of the industry
in recent weeks following the contention of Michael Lewis in his bestseller Flash Boys that high
frequency trading has rigged the markets through manipulation and disruption.

On another issue, the he said Finra has expanded an initiative begun last year to target the
riskiest brokers by establishing a specific enforcement team.

Finra's High Risk Broker Program uses complaints, tips, arbitrations and field reports from exams
to spotlight potentially troublesome brokers that the authority should investigate, Ketchum said.


http://www.fa-mag.com/news/ketchum--finra-may-boost-oversight-of-off-exchange-trading-18004.html