UK Trader Fined 60,000 Pounds For Outsmarting Algos
![UK Trader Fined 60,000 Pounds For Outsmarting Algos UK Trader Fined 60,000 Pounds For Outsmarting Algos](https://5ux.com/sites/5ux.com/files/styles/medium_250/public/resize/remote/ec94014978c0bb9fad52e477bfb79b84-500x242.jpg?itok=nivqmxny)
Yet another UK trader is being punished by overzealous regulators for an accomplishment that should instead have earned him accolades: Outsmarting the machines.
In a case that echoes some of the circumstances surrounding the scapegoating of former UK-based trader Nav Sarao, former Bank of America Merrill Lynch bond trader Paul Walter has been fined 60,000 pounds by the FCA for a practice that regulators call ‘algo baiting’.