Merrill Lynch faces sanctions for extreme scalping role in Korea
Yoo Joon-ho, Lee Eun-joo
Pulse, 18 June 2019
U.S. brokerage Bank of America Merrill Lynch is facing possible disciplinary action from South Korea’s stock exchange authority for its alleged role in market-disrupting high-frequency trading on behalf of U.S. Citadel Securities.
Korea Exchange, the country’s stock exchange operator, said on Tuesday that it will convene a market monitoring committee on Wednesday to determine the level of punishment against Merrill Lynch. The action may include warnings, stern warnings and financial penalties.
