HK SFC raps Citi unit for algo system failures

May 14, 2014

The firm narrowly escaped a heavy fine because the share price movements in question occurred before new electronic trading rules took effect in January.

HK SFC raps Citi unit for algo system failures

Hong Kong’s securities regulator has reprimanded a unit of Citigroup for failing to ensure that its algorithmic trading systems functioned properly between April 2009 and May 2010.

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