BNP Paribas hit with HK$15m fine for dark pool failures

Hong Kong’s securities regulator has fined BNP Paribas Securities (Asia) HK$15 million ($1.9 million) for failures in the operation of its dark pool. The Securities and Futures Commission yesterday announced the results of its investigation into BNPP Securities' dark liquidity pool trading services, known as the BNP Internal Exchange (BIX). The SFC found that BIX did not operate as represented in materials provided to clients. While the bank said larger orders would be given pri…