LaBranche, the specialist trading firm, is facing allegations that it illegally traded nearly eight times the volumes originally estimated by the New York Stock Exchange (NYSE) in its investigation.

LaBranche, one of five specialist trading firms being probed by the NYSE, has been accused of $38.5m (€33m) of improper trading. The original estimate was just $5m. The new number exceeds the $35m of improper trades Van der Moolen, the Dutch specialist, has been accused of.