Trader spotted by surveillance algorithms appeals £100,000 fine

By Neasa MacErlean

An experienced trader is facing a £100,000 fine and a ban on regulated activity by the FCA unless he can win the appeal he has made to the Upper Tribunal. Corrado Abbattista, chief investment officer at Fenician Capital Management, came to the notice of the regulator when his transactions were highlighted by the surveillance algorithms it runs on order book data from the leading United Kingdom equity trading venues.