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Even if they got the exchange's order-book they'd probably just see a bunch of orders from some guys named Morgan Stanley and JP Morgan. So many of these trades
by latencyloser 7y ago
Even if they got the exchange's order-book they'd probably just see a bunch of orders from some guys named Morgan Stanley and JP Morgan. So many of these trades are routed or entered by brokers or other large firms.
- dogma1138 7y agoDue to regulations like MIFID you can’t hide trades behind a brokerage all the parties involved in the trade including the actual individuals (as in their passports or other government identifications) are recorded for each trade and reported to the regulators. You can’t have a broker issuing orders on your exchange without knowing who they are for and who were the individuals involved in requesting and approving the trade. JPM has also a responsibility in ensuring the trades it issues through its brokers aren’t tainted with insider trading.
- latencyloser 7y agoAh you're probably right. My mistake, I had left the industry before MIFID II took effect, I was unaware.
- dogma1138 7y agoEven without it I’m not sure that a dark pool is even possible on Globex or any of the large exchanges, these are usually reserved for smaller exchanges that are set up as an alternative trading system. CME is also pretty pedantic in regards to who can trade on its platform. Overall looking at the historical trade data there doesn’t seem to be any unusual trading patterns in the trades that VF reported as suspicious either in volume or position. As far as the last minute trade goes this is very common not only on Fridays but at the end of every trading day where traders push a large number of trades just before the bell hits it’s pretty common practice it’s pretty much like taking out the trash.