Yup this seems to explain it pretty well. (Though he does talk about how my mentioned scenario is a bit of a grey area, and that barely anyone seems to have got

Yup this seems to explain it pretty well. (Though he does talk about how my mentioned scenario is a bit of a grey area, and that barely anyone seems to have gotten in trouble for it.) If anyone else is curious: https://web.archive.org/web/20220129121919/https://www.bloomberg.com/opinion/articles/2022-01-26/watch-out-for-shadow-trading https://web.archive.org/web/20220129121919/https://www.bloom...