Deutsche Bank’s brokerage business was fined $2m by the Financial Industry Regulatory Authority (Finra) for using a poorly designed trading system for years that failed to meet ‘best execution’ requirements for clients, the market watchdog announced on Tuesday.

Between January 2014 to May 2019, Deutsche Bank Securities regularly used an alternative trading system (ATS) known as SuperX to process client trades despite knowing its use led to delays, lower fill orders and poor prices for customer orders, according to Finra.