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I still really don't appreciate the severity of the fines. If you are trying to move money around there still is no guarantee, so you still have other risks, maybe taxes but not market risk. I just wonder if there is a deeper benefit?
I have seen many and the fines are fairly substantial, also some interesting ones about placing wash trades during the 'pre-open' and then not being able to close during the 'lock time' and therefore incurring a wash sale, huge fines!!! ...
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
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No. My comments referred to 'old world products' 20'ish years ago. I'm not 100% sure when ICE removed this functionality but 10 years ago when Dodd Frank became legal ICE converted all the old OTC products into futures so it was definitely prior to that. NOTE Even prior to that, OTC is limited to ECPs only. So this was the big boy market with no retail traders. I was just telling a story for history and background not to allege misconduct.
