Regulators on both sides of the Atlantic have levelled their first fines against high frequency traders who deployed computer algorithms to spoof the markets by placing and immediately cancelling bids and offers in futures contracts.
regulators and exchange market supervision depts at exchanges were constantly warned of this "spoofing " pratice yet at the time they decided to do absolutely nothing ! Therefore the end user lost monies and market confidence withered yet the algo spoof
client profited from illegal trading !
Hey ho a few years later the regulators want a pat on the back ! Perhaps if they did their job properly and at source this would never of festered ; now its opened a can of worms as alot of senior companies have been found guilty . Personally I would
like to see an exchange fined for not providing "fair and orderly markets " .
to $120K base, double OTE, benefitsNew York City, NY or Boston, MA (USA)
© Finextra Research 2015