Oh, so faking up an initial spread to start a market isn’t allowed? Let me put this one out, it’s not rare… CFTC fines TFS-ICAP and its managers $7m for fake FX option markets.
Interestingly enough, the action comes from a whistleblower (who will be entitled 10-30% of that recovery…)
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Should US stocks settle T+1? The current T+2 settlement date is considered antiquated, and the Robinhood affair (gee, them again???) has relaunched the debate. Here is a review of the DTCC’s proposal, as well as an idea for derivatives traders.
#FinancialMarkets, #DTCC, #Settlement, #Derivatives, #MarketStructure
Navesink International (www.NavesinkInternational.com)
The SEC and the NY AG are suing CoinSeed for lack of registrations and multiple other counts. That’s a cold shower for the crypto industry. Spoiler alert: adult supervision is needed.
Geode handles $700 bn of Fidelity’s index tracking assets. Geode Diversified, the much smaller hedge fund business, took a 36% loss on COVID’s volatility rally. It is now getting the axe.
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