Brokerage firm penalised for illicit high-frequency trading

Mark Sands
23 Sep 2010

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WASHINGTON, DC – Trillium Brokerage Services has been censured by the Financial Industry Regulatory Authority (Finra) for illicit high-frequency trading strategies. The regulatory action resulted in a total of $2.3 million in fines and disgorgement penalties, as well as individual bans for several members of staff.

Traders at Trillium placed large numbers of artificial buy or sell orders before immediately cancelling them seconds later, creating a false perception of demand for stocks, a

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