The Financial Conduct Authority (FCA) has fined former Bank of America Merrill Lynch (BAML) bond trader Paul Walter £60,090 for engaging in market abuse.
Walter was found to have created a "false and misleading impression" as to supply and demand in the market for Dutch State Loans (DSLs) on 12 separate occasions between July and August 2014, the FCA said. An FCA investigation found on 11 occasions Walter entered a series of quotes that became the best bids on electronic trading platform BrokerTec, giving the impression he was a DSL buyer. Deutsche Boerse pays insider trading finesrelating to LSE merger Other market participants, who were tracking his quotes with algorithms, raised their bids in response, and Walter then sold to tho...
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