Tag: Algo Baiting

Algo Baiting

And Another Thing…

I learnt a new phrase last week, “algo-baiting”, thanks to a former bond trader being fined £60,000 by the UK’s FCA for doing just such a thing. Reading the notice issued by the FCA, however, I find myself wondering why what the trader had done that was deemed illegal?
At face value it looks like an open and shut spoofing case but with spoofing there generally is not an intention to deal – in this case I would argue there could have been.