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UK Trader Fined 60,000 Pounds For Outsmarting Algos

UK Trader Fined 60,000 Pounds For Outsmarting Algos

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’.

Asian Stocks Smash Records; Dollar Slides As Crude Surges To July 2015 Highs

Asian Stocks Smash Records; Dollar Slides As Crude Surges To July 2015 Highs

Global shares hit another record high on Wednesday, propelled higher by what increasingly more call (ir)rational exuberance, and investors’ unflagging enthusiasm for tech stocks. That said, S&P futures are unchanged the morning before Thanksgiving (at least before the market open ramp), as are European stocks (Stoxx 600 is flat), despite the euphoria in the Asian session which saw the MSCI Asia Pac index hit a new all time high...

Budget Preview: Chancellor Philip Hammond's Impossible Task To "Square The UK's Circle"

Budget Preview: Chancellor Philip Hammond's Impossible Task To "Square The UK's Circle"

At lunchtime today, Philip Hammond will give the weakened Conservative government’s first budget in the new parliament.

Against a likely backdrop of downgrades for the economy from the OBR, the Chancellor will be under immense pressure to provide a sound plan going forward on many issues. As Statista's Martin Armstrong notes, the NHS has already had its call for an emergency boost of £4 billion rejected, but there will need to be at least some answers to the problems surrounding health and public services funding.

Doomsday Scenarios: UK's Hair-Raising Admissions About Prospects Of Nuclear War (Or Accident)

Doomsday Scenarios: UK's Hair-Raising Admissions About Prospects Of Nuclear War (Or Accident)

Authored by T J Coles via Counterpunch.org,

The British Ministry of Defence (MoD) has published several reports over the last few years. They discuss geopolitics and related themes, one of which is the likelihood of nuclear war or accident, including what it means for long-term survival.

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