Over a two-year period until September 2014, the market-maker removed hundreds of thousands of large OTC orders from its automated trading processes, according to Finra. That rendered the orders “inactive” and so they had to be handled manually by human traders.
Citadel Securities then “traded for its own account on the same side of the market at prices that would have satisfied the orders,” without immediately filling the inactive orders at the same or better prices as required by Finra rules, the regulator said….
Nearly half of the 467 limit orders reviewed by the regulator in the six years until September 2018 were found to violate Finra’s requirements to display orders. The bulk of the violations were for failing to execute trades against existing quotations in a timely manner, Finra said.
Citadel Securities, Accused Of Rigging Markets, Accuses Someone Else Of Rigging Markets
Your purported friends are IEX are not actually your friends, dear retail investors, sayeth Ken Griffin.
Ken Griffin Not Willing To Share His Secrets Even To Punish Those Who (Allegedly) Stole Them
If GSA Capital can’t unsee Citadel’s code, can a judge?
Ken Griffin Locks Up Two Dozen Employees To Keep The Liquidity Flowing
They can look out at the beach—but definitely aren’t allowed to go to it.
Ken Griffin Needs Help, Another $75 Million House To Cope With This World Gone Crazy
Citadel Securities is going crypto, sort of.
Is Citadel Moving To Miami? A Dealbreaker Investigation
Ken Griffin’s suddenly got lots of places to stay in a city where Citadel has no office.