Citadel Account Frozen Amid China Algorithmic Trading Probe
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Citadel Securities, the trading firm started by Ken Griffin, owns one of the 38 accounts frozen by Chinese exchanges as authorities investigate whether algorithmic traders are disrupting the nation’s stock market.
Bourses in Shanghai and Shenzhen have increased the number of suspended accounts from 24 announced on Friday, according to their websites. The probe is focused on spoofing, a practice that involves placing then canceling orders to move prices. Owners of the other frozen accounts include Infore Capital, a Shenzhen-based asset management company, and YRD Investment Co., a Beijing-based hedge fund.