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Trader spotted by surveillance algorithms appeals £100,000 fine

Compliance Monitor

Trader spotted by surveillance algorithms appeals £100,000 fine

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

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