JP Morgan Fires Traders Who May Have Exploited SETS To Manipulate Stock Prices
SETS IMPLEMENTATION & STRATEGIES
LONDON--JP Morgan London has fired two traders implicated in an internal investigation of an alleged stock price manipulation that involved the Stock Exchange Electronic Trading Service (SETS) system of the London Stock Exchange.
The firings follow JP Morgan's internal enquiry and a £350,000 (or roughly $525,000) fine of the bank by the LSE, say industry sources.
The LSE had been investigating the JP Morgan traders who may have exploited SETS, a new order-driven trading system launched on October
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