Article: BofA Merrill Lynch Branch in Seoul Fined for High-frequency Trading

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BofA Merrill Lynch Branch in Seoul Fined for High-frequency Trading

Yoon Young-sil

Business Korea, 17 July 2019

Korea Exchange (KRX) has decided to impose a 175 million won (US$148,495) fine on Bank of America Merrill Lynch’s South Korean unit for violating its trading rules. Merrill Lynch’s Seoul branch reportedly served as a trading channel for U.S.-based Citadel Securities and has been suspected of disrupting the market through high-frequency algorithm trading on the KOSDAQ market.

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