FCA fines high frequency trader £600k for market abuse

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The Financial Conduct Authority (FCA) has fined a US-based oil trader £600,000 for market manipulation.

Between 6 September and 18 October 2011, high-frequency trader Michael Coscia used an algorithmic programme to run an "abusive" trading strategy known as "layering", making a profit of £183,000 in the...

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