SEC Settles With Speedy Trading Over Manipulation

Mark Melin

Published onOctober 16, 2014

Updated on May 13, 2021

High frequency trading firm Athena Capital Research has reached agreement with the U.S. Securities and Exchange Commission (SEC) to pay a $1 million penalty to settle the charges it used algorithmic trading methods to impact the closing price of NASDAQ stocks.

First ever HFT case settled with SEC

This was the first-ever manipulation case against a high-frequency trading firm settled by the SEC, Reuters reported. Without admitting or denying the charges, the New York City-based firm settled issues over its “Gravy” program that flooded the market with a large number of aggressive trades in the final two seconds, a practice known as “marking...

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Mark Melin

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

SEC Settles With Speedy Trading Over Manipulation

First ever HFT case settled with SEC

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