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NEWS
SFC reprimands and fines Credit Suisse Securities (HK) Limited 2.1m HKD over breaches of electronic trading requirements
SFC found that between 09:39 and 09:47 on 28 February 2019, CSSHK submitted 16,935 erroneous market making quotes to the market, resulting in the execution of 8,042 stock options trades at prices that deviated from the then prevailing market prices.
The incident was caused by a logic error in the symbol mapping program used by CSSHK, in its capacity as a stock options market maker, in generating market making quotes.