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2 billion yuan futures market manipulation case cracked high-frequency trading buy sell

inside and outside the regulation of the capital market bloom, not only search "inner demons", began to focus on dealing with illegal manipulation in futures trading.  According to Xinhua News yesterday, the Ministry of public security command in Shanghai public security organ successfully detected a trading company as a cover, committed outside the remote control command, transaction, means hidden, illegal profits allegedly manipulating futures market of great crime cases involved amounting to 2 billion yuan.

more than 6 million of principal profit of 2 billion

, according to the Shanghai Municipal Public Security Bureau task force identified, Gao yan who suspects, two overseas organizations ZAIA, Anton, for $ 500,000 registered capital as well as other lending 3.6 million Yuan as initial funding, total is about more than 6 million Yuan for stock index futures trading.  Using more specific legal futures accounts through high-frequency trading software programmed in illegal profits of up to more than 2 billion yuan.

Gao yan, who is alleged to have used program trading software stock index futures markets. From early June to early July this year, sharp fluctuations of the stock and futures markets, Yi Shidun group of company accounts under a single speed is up to $ 0.03 seconds a year, up to 31 under in one second, and price and market price deviation was significantly higher than other program traders.  Only from early June to early July, the company account group net profit amounted to more than 500 million Yuan RMB.

in this regard, regulators believe, Yi Shidun the company's futures trading Act expanded the intraday price movement associated with market price trend, affected the market price at the time, and the normal trade order.  Police found that the Yi Shidun company of unusual transactions Act in conformity with operating features of the stock index futures market, allegedly manipulating futures market crime.

only in the area of futures by more than one company in the use of high-tech means of manipulating the futures market. Everbright futures Wang Hongying, a senior researcher said that as well as Yi Shidun, a large number of overseas agencies to use technology to manipulate futures markets.  Market in China is still in the initial period of opening, many traditional investment, overseas institutions ' use of technology is not equivalent to this point, implementation of financial market of our country looted.

flowering within and outside capital markets regulation

in fact, at a time of turmoil in the stock market this year, capital market regulation has never been interrupted, not only to investigate a number of "ghost", but also strengthen the securities market and futures market supervision and monitoring of the illegal trade. Between 6 July and abnormal huge fluctuations in the stock futures market in China, the vast number of investors suffered huge losses.  For this reason, regulators investigated and dealt with a number of "ghosts", in which the General Manager of CITIC Securities, Cheng Boming and several other executives on suspicion of insider trading and disclosing insider information was found, former Chairman of the SFC, Assistant President Zhang Yujun was arrested for serious offenses, replacing President Assistant position.

for raised stock sharply fluctuations of distribution funding business also for has further cleanup, and on early self-examination in the omitted suspected distribution funding account, and remaining violations trading investigation has a financial institutions, including intends on 3 home securities company suspended new open securities account 1 months of administrative regulatory measures, on 1 home Fund subsidiary take ordered corrected and suspended handle specific customer assets management plans record 6 months of administrative regulatory measures, on 1 home fund company, and 2 Fund subsidiaries shall be ordered to correct and suspending a specific customer asset management plan for the record 3 months of administrative controls. In addition, there are irregularities of 1 subsidiary risk of futures companies, futures industry association discipline disciplinary measures would be taken.