Free Site Registration

NYSE Fines Credit Suisse For Algo Run Amok

January 13, 2010
John Hintze

On the morning that the Securities and Exchange Commission meets to consider how to deal with automated trading issues, Credit Suisse has been fined $150,000 by New York Stock Exchange Regulation for poorly supervising the development and execution of an algorithm that clogged the exchange’s order processing system and severely delayed messaging traffic on five NYSE-floor trading posts.

Get access to this article and thousands more...

All SecuritiesTechnologyMonitor.com articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, and conference discounts. Qualified members may also choose to receive our our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and topics that matter to the effective operation of capital markets.

Already Registered?