Korea Fines Citadel Securities for High-Frequency Trades: Yonhap

South Korea’s financial regulator has fined US-based Citadel Securities almost $10 million over its use of high-frequency trades that allegedly disrupted the market, Yonhap News reported, citing officials at the authority it didn’t name.

The Securities and Futures Commission fined the firm a total of 11.9 billion won ($9.7 million) after determining some equity transactions it made via Merrill Lynch International’s Seoul branch between October 2017 and May 2018 disturbed market order, Yonhap reported, citing the officials.

The Financial Services Commission, the SFC’s parent, said in a statement Thursday a foreign securities company had been fined over its use of ...