In dismissing the case, the City of Providence acknowledges that OneChicago is not involved in the activity which is the subject of the complaint, which charges the defendants with diverting billions of dollars to themselves.
I found Mr. Lewis’ non-fiction account of high frequency trading more like a novel than the factual account it purports to be. Many times, Mr. Lewis takes the mundane and ordinary but through exhilarating manipulation of language makes it seem illegal.
The CFTC and its enforcement division are reviewing trading practices in the futures market to ensure they aren’t manipulative, Wetjen said. The agency is also reviewing relationships between exchanges and trading firms, he said.