The exploits of two Norwegians who took on a computer stock trading system and won is gaining techie acclaim around the world.

An Oslo court has found Peder Veiby and Svend Egil Larsen guilty of market manipulation but elsewhere their exploits are being celebrated as a man over machine victory.

The two men working independently identified weaknesses in automated trading algorithms used by Timber Hill, a company owned by Greenwich, Connecticut based securities house, Interactive Brokers.

The enterprising duo made $50,000 by exploiting the weakness to turn a profit on the shares of Oslo listed shipowners Wilh Wilhelmsen and Odfjell as well as the Hafslund energy company.

They discovered that the algorithm failed to distinguish between large and small trades so by buying progressively smaller lots of shares in lightly traded companies they could drive Timber Hill’s program trading price up and then unload the stock at a profit.

But their ingenuity did not go down so well with the court which regarded it as market manipulation imposing suspended jail sentences and confiscating their profit.

Veiby was sentenced to 120 days in jail suspended for two years, and fined NOK 165,000 ($28,700) while Larsen got a 90 day suspended prison sentence and a fine of NOK 105,000 ($18,250).

Veiby played the market to finance his studies at Norway’s Handelshoyskolen BI business school while Larsen is a professional day trader.

The duo are set to take the case to appeal.