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PSzÁF fines brokerage Cashline for breaking market influence rules

Hungarian financial market regulator PSzÁF said it fined brokerage Cashline Értékpapír HUF 2 million for breaking regulations on market influence.

PSzÁF said Cashline misled traders when it offered to buy 125,000 OTP shares at HUF 2,176 per share on November 20, 2008, then withdrew the offer two minutes later.

OTP Bank lost 9.38% to close at HUF 2,320 on November. The price was the share's lowest in five years. (MTI – Econews)