Norwegian traders convicted for outsmarting US stock broker algorithm
The Norwegian traders, Svend Egil Larsen and Peder Veiby, were handed suspended prison sentences and fines for market manipulation after outsmarting the trading system of Timber Hill, which is a unit of US-based Interactive Brokers. The two men managed to work out how the computerised system would react to certain trading patterns. This allowed them Read more about Norwegian traders convicted for outsmarting US stock broker algorithm[…]