In a microcosm of what’s wrong with this country, NFA management has restructured the Board and set up this election to eliminate 50% of the representatives that were actually elected by you. This will result in even less oversight of a management team that has seen four major frauds happen on their watch recently.
On the trading floors of New York and Chicago, and on quieter desks from Greenwich to Boston, trading supervisors are reviewing surveillance reports and consulting real-time surveillance monitors as though their bonus checks depend on it—because they do. Here’s why.
The U.S. Commodity Futures Trading Commission (Commission) unanimously approved proposed rules that mark a comprehensive regulatory response to the evolution of automated trading on U.S. designated contract markets (DCMs).
A jury on Tuesday convicted high-frequency trader Michael Coscia of commodities fraud and "spoofing," in the U.S. government's first criminal prosecution of the banned trading practice. The verdict may energize prosecutors to pursue market manipulation cases and spur some high-speed traders to review their strategies, in which orders are sometimes executed or canceled within milliseconds after they are entered.