Economics
High-Speed Trader to Pay $101 Million in Landmark China Case
- Two Yishidun executives, one brokerage official convicted
- First criminal case in China against a high-speed trading firm
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China handed down a $101 million penalty and two suspended prison sentences in its first criminal case against a high-speed trading firm.
The case had been closely watched by the trading community on the mainland, looking to shed light on Chinese authorities’ stance on high-frequency trading, which remains a controversial practice in jurisdictions across the world.