Experienced bond trader fooled algos into buying loans at inflated prices on 12 occasions

Former Reporter

The Financial Conduct Authority has fined a former Bank of America Merrill Lynch trader £60,090 for manipulating markets by fooling algorithms into buying loans at inflated prices.

In July and August of 2014, Paul Walter, an experienced bond trader at BAML, said that he would buy Dutch State Loans at inflated prices on electronic trading platform BrokerTec.

FCA fines ex-Bank of America trader £60k for manipulating algos

FCA fines ex-Bank of America bond trader £60k for tricking algos

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