FINRA today announced it has censured and fined New York-based Trillium Brokerage Services LLC $1 million for using “an illicit high frequency trading strategy and related supervisory failures.”

According to the Washington regulator, Trillium entered numerous layered, non-bona fide market moving orders to generate selling or buying interest in specific stocks through nine proprietary traders. “By entering the non-bona fide orders, often in substantial size relative to a stock’s overall legitimate pending order volume, Trillium traders created a false appearance of buy- or sell-side pressure,” FINRA said.

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