Commentary

DOJ Obtains Mixed Verdicts in Spoofing Case

DOJ Obtains Mixed Verdicts in Spoofing Case

A COVID-19 depleted jury returned unanimous verdicts for each of the 17 counts in the criminal spoofing case brought against two former Deutsche Bank traders, James Vorley and Cedric Chanu. The decisions by the eleven jurors were announced late on Friday afternoon at...

David Downey Knows Security Futures Like No One Else

David Downey Knows Security Futures Like No One Else

David Downey does not suffer fools well. His statements are very direct and to the point. And he knows when he is right and is willing to point out where regulators and competitors are wrong. Downey is in the process of shutting down OneChicago, but his writings and...

Spoofing Is Not Just Bluffing:  No Zero-Sum Game in Trading

Spoofing Is Not Just Bluffing: No Zero-Sum Game in Trading

Stepping away from the increasingly settled legal issues around spoofing, we see that business ethicists are also addressing the moral and economic dimensions of spoofing. When we spoke to market participants and experts, defendants of spoofing often analogized it to other trading practices or strategies that are admittedly deceptive. 

Cannabinoids: A Brief Excursion into Neuropharmacology

Cannabinoids: A Brief Excursion into Neuropharmacology

One of the first things to learn about cannabis is that nobody knows much for sure about it; not about its botany, chemistry or uses. This article brings you a quick overview of a few biochemical aspects of cannabis for human consumption and use.    Knowledge about...

The D-Limit Order Type of IEX Has My Support

The D-Limit Order Type of IEX Has My Support

Most of you know I prefer markets that are listed. You also know I prefer markets that are not dark. I also prefer markets that have many and a multitude of participants, in numbers and size. These are all features of a proposal from IEX before the SEC for its D-Limit...

Lessons Learned in Real Time

Lessons Learned in Real Time

At the end of the IDX-V session on the lessons learned Wednesday, just after Chris Smith from LME mentioned the importance of infrastructure for working from home, my internet failed. FIA’s Don Byron, who moderated the panel, had mentioned how when the movie Frozen II...

Brent Crude: Global Benchmark

Brent Crude: Global Benchmark

The closing session of IDX-V Day 2 offered ICE pumping its own oil in the form of an infomercial (“sponsored session”) about ICE Brent crude futures. The two-person session had Chris Edmonds, ICE Global Head of Clearing and Risk, as master of ceremonies, and ICE Head...

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