reality check, page-9

Point Taken MD
In hindsight I should have put the cross-examination in brackets as the NTMA litigation never got that far.
I got ahead of myself, licking my lips in anticipation of watching AGS’s QC cross-examining H/Q affidavit writers and anyone they subpoena for the M&DC trial.
I came across this in my reading this morning, interesting insight into algorithmic trading;-
“Two Norwegian day traders were cleared of all wrongdoing after being handed suspended prison sentences for market manipulation in 2010 - after they worked out how the computerised systems of a big
US broker would react to certain trading patterns that allowed them to influence the price of low volume stocks.
Two expert witnesses testified the activities of Svend Egil Larsen and Peder Veiby were common market practice. Mr Larsen told the Financial Times that he was still getting the better of algorithmic trading systems today. "Just the other month UBS forgot to set a bottom limit on one of their algos and I got some stocks for cheap" he said. Adding that UBS called him afterwards and asked him to reverse the trade. He declined to do so.
Mr Larsen said the system was so flawed that any rational investor could have done what we did in the
same open and transparent way.
The Norwegian public had already ruled the pair innocent, with the trial one of the most unpopular ever seen in Norway.”