High frequency trader fined more than $3m by regulators

High frequency trader fined more than $3m by regulators

Financial regulators in the UK and US have fined a high frequency trader and his firm more than $3m (£1.95m) for manipulating commodities markets.

The UK’s Financial Conduct Authority (FCA) fined Michael Coscia $903,176, while two US regulators levied the rest on him and his company, Panther Energy.

High frequency traders use ultra-fast systems to place buy or sell orders far quicker than can be executed manually.

It is the first time the FCA has taken action against a high frequency trader.

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This entry was posted in Breaking News, Dark Pools, Finance, High Frequency Trading, Regulatory Updates and tagged , , , , , , , . Bookmark the permalink.

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