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High Speed Trading Firm Fined $101 Million in China

High Speed Trading Firm Fined $101 Million in China

China has fined a high speed trading firm $101 million and given two suspended prison sentences in its first criminal case against a high speed trading firm. Yishidun International Trading was fined 300 million yuan ($44 million) for manipulating China’s futures markets and ordered to pay out 389 million yuan in profits.

“Yishidun International Trading was fined 300 million yuan ($44 million) for manipulating China’s futures markets and ordered to pay out 389 million yuan in profits.”

~ Bloomberg

The case has been closely watched by the trading community on the mainland, as it was going to show Chinese authorities’ stance on high-frequency trading. Yishidun, also known as Eastern Dragon, said that it was one of a number of foreign-owned firms that China probed after the $5 trillion market crash in 2015.

Related Reports: Bloomberg


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