Sven-Egil Larsen and Peder Veiby are two Norwegian traders that exploited a market-making bot on the Oslo Stock Exchange. The bot was trading for Timber-Hill (IBKR). They made some small orders in illiquid stocks (to push up the price). Then the robot would place a large bid above the average purchase price and they could sell with a profit. Timber-Hill let the robot trade during two years so these chaps were able to repeat the play many times and made a fistful of dollars.
0 comments:
Post a Comment