According to the industry regulator, ex-staff at Blue Index including joint-owner and co-founder James Paul Sanders and his wife Miranda face the charges.
The others named by the FSA are James Swallow, co-owner and director, Christopher Hossain, senior trader and Adam Buck a former employee at the firm and close confidant of Mr Sanders.
Offences are thought to have taken place between October 2006 and February 2008 and the counts include trading ahead of takeover announcements and disclosing insider information.
The charges are part of the regulatorâs ongoing clamp down on financial crimes such as insider trading.
In an interview with the Daily Telegraph earlier in the year, Margaret Cole, director of enforcement and financial crime at the FSA, said the body âcame to the conclusion, reasonably early on, that ... [it] ... needed to embark on criminal prosecutions of market abuse and that was going to be the answer to creating a credible deterrentâ.
âActually seeing people going to prison and being locked up was going to be much more powerful, in the appropriate cases, than a fine,â she explained to the news provider.
The accused in the Blue Index case were originally arrested in May 2009 and are due to appear in court on December 20th.
By Jim Ottewill