Thank You, ASIC about time you show you exist.
ASIC issues infringement notice to Interactive Brokers over client’s manipulative stock trading
Electronic trading firm Interactive Brokers LLC has paid a penalty of $250,000 in order to comply with an infringement notice given to it by the Australian Securities and Investments Commission (ASIC). Interactive Brokers operated an Automated Order Processing (AOP) system that allowed clients to enter Orders into the Chi-X Market and the ASX Market. Depending on best execution, the Orders would be submitted either to the Chi-X Market or routed to a related body corporate of Interactive Brokers for entry into the ASX Market. A client of Interactive Brokers placed a series of bids for shares in Altona Mining Limited ... (full story)