Reuters: Germany's Deutsche Bank (DBKGn.DE) and Switzerland's UBS (UBSN.VX) said they were caught up in an inquiry by U.S. regulators, who are looking into whether broker-run stock exchanges gave an unfair advantage to high-frequency traders.
The investment banks, which said on Tuesday that they were cooperating with inquiries, also faced class action suits that alleged they violated U.S. securities laws, allowing high-speed traders to make a profit at the expense of institutional investors, such as pension funds and insurance companies.
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