here're the court proceedings in norwegian: http://multimedia.dn.no/archive/00198/Dom_robotsaken_198967a.pdf http://multimedia.dn.no/archive/00198/Dom_robotsake

here're the court proceedings in norwegian: http://multimedia.dn.no/archive/00198/Dom_robotsaken_198967a.pdf http://multimedia.dn.no/archive/00198/Dom_robotsaken_198967a... description of what they did from another forum: - TMB is showing 5k bid @ 9.7 / 5k ask @ 10 - Norwegian viking takes out the ask - TMB increases the bid to 9.8 and the ask to 10.1 - Viking is a violent heathen so he continues to hit the ask, though with less size - Iterate this for a couple of steps - Suddenly the viking feels full and decides to drop his inventory at TMB's bid, and then he repeats the same procedure but by shorting in several steps instead Looks like incredibly dumb system to me. Albeit that was 2007 when the HFT arms race has just begun.