Helix Partners, Hong Kong, has been struck off the CBFC register following a third penalty—this time of €8.1 million—for using spoofing algorithms to manipulate trading venues.
This third violation follows previous fines of €3.2 million (September 2019) for client fund mismanagement and €5.9 million (July 2023) for misleading disclosures. This final enforcement action marks the end of the firm’s authorisation under the Commission’s regulatory framework.
The CBFC ’s Algorithmic Trading Surveillance Unit identified sophisticated spoofing strategies designed to create false market liquidity across multiple asset classes. This deregistration represents the culmination of extensive investigation and enforcement proceedings, reinforcing the Commission’s zero-tolerance approach to systematic market manipulation. The CBFC ‘s comprehensive regulatory authority ensures that no firm can escape accountability for market abuse, regardless of technological sophistication or international scope of operations.