News in Brief - Caproasia Online | The leading source of data, research, information & resource for investment managers, professional investors, UHNW & HNW investors, and advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more

This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.

HK SFC Reprimands and Fines Interactive Brokers HK$4.5 Million for Causing Market Disruption

The Securities and Futures Commission (SFC) has reprimanded and fined Interactive Brokers (IBHK) in Hong Kong HK$4.5 million ($580K) for causing the share prices of Hong Kong-listed O-Net Communications (Group) Limited and AAG Energy Holdings Limited to surged by 48.7% and 126% in less than two minutes in 2015 and 2016, respectively.

“ Interactive Brokers Hong Kong fined HK$4.5 million for Causing Share Prices to Surge “

The reprimand and fine was imposed after Interactive Brokers resolved concerns over IBHK’s breaches of the Code of Conduct in its execution of market orders using electronic and algorithmic trading systems.  SFC and IBHK had jointly engaged an independent reviewer to review IBHK operations, and has implemented controls to monitor and prevent the generation of or passing to the market for execution order instructions which may interfere with the operation of a fair and orderly market.

The review found that IBHK had executed market orders by placing the entire order volume, resubmitting the unfulfilled order at the next available price, until the entire order was completed.  IBHK had not taken into account the liquidity of the market when executing the market orders.

Ads & Announcements

INHK electronic trading system was developed by its head office in the United States, where its programming function was responsible for both development and quality assurance of the system. The technical design documents of the systems were high level and did not provide a detailed explanation of the components of the trading systems.

IBHK had co-operated fully in resolving the SFC’s regulatory concerns, and the failures rectified within 12 months

Source: Securities and Futures Commission

2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM

Register Below
Latest 2022 data & reports, insights & news
Every Saturday & Sunday 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

For Investors | Professionals | Executives

New to Caproasia?
Join 10,000 +
Learn More | Sign Up Today

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Subscribe / Sign Up / Contact Us

    Mailing ListFree TrialPromo $20 MonthlyPromo $180 YearlyInvestor $680 YearlyProfessional $680 YearlyExecutive $2,000 Yearly

    Private WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights

    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014

    Web links may be disabled on mobile for security.
    Please click on desktop.

    Previous articleMirae Asset to Buy 100% Stake in ETF Specialist Global X
    Next articleScottish Widows and Lloyds Wealth to Terminate £109 Billion AUM Partnership with Standard Life Aberdeen covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia