SFC Fines IBHK concerning Electronic and Algorithmic Trading Systems
SFC Fines IBHK concerning Electronic and Algorithmic Trading Systems
Hong Kong’s Securities and Futures Commission (SFC) has publicly reprimanded and fined Interactive Brokers Hong Kong Limited (IBHK) HK$4.5 million for breaches of the Code of Conduct for Persons Licensed by or Registered with the SFC (Code of Conduct) which lead to two incidents of market disruption which saw the share prices of two Hong Kong- listed companies doubled within minutes. The SFC’s statement of disciplinary action details deficiencies in IBHK’s execution of market orders using electronic and algorithmic trading systems. Read more…