Shortly after we reported the latest market-rigging scandal, in which ITG was busted for frontrunning sellside clients in its dark pool in what has been since dubbed a "trading experiment" (because it sounds better than criminal conspiracy to defraud clients), and which will cost the company a record for a private Wall Street firm $22 million settlement, we had one question for AQR's Cliff Asness yesterday morning: http://www.zerohedge.com/news/2015-...st-hedge-fund-caught-hft-frontrunning-scandal
Can someone tell ITG to update their website: "Because we were founded 28 years ago as independent, agency-focused broker-dealer (and remain so to this day), our sole concern is your best execution." Should be: Our best execution
Another confirmation that those who can trade are indeed an extremely rare breed. Please keep your head up.
Notice the settlement and NO criminal charges? Meanwhile Sarao sits in prison for something as lame as spoofing.
Who is to say that Sarao is in prison for something lame? It is not unknown that some people commit crimes, law enforment knows about it but can't get the person condmned; However they get caught for something much "lighter" and there - receive sever punishments for "lame" crimes. Obviously, it must hurt to be harshly punished for a "lame" crime, when having received no punishments for serious "hidden one".
sarao is in jail because he is a nobody. to imply otherwise is not logical. (http://www.telegraph.co.uk/news/ukn...-who-always-got-away-with-it-friends-say.html) http://www.zerohedge.com/news/2015-...stroyed-he-found-way-beat-hfts-their-own-game) this is the result when you mess with goldman http://www.vanityfair.com/news/2013/09/michael-lewis-goldman-sachs-programmer http://www.bloomberg.com/news/artic...x-programmer-sues-fbi-agents-who-arrested-him http://www.nytimes.com/2015/07/07/b...er-goldman-programmer-is-overturned.html?_r=0 the FBI was in Goldman's pocket. it was overturned on appeal and it is still not over. this case is no different. the players are different. the scenario and perhaps the outcome is the same.
ITG let go of the CEO. Somebody is getting paranoid. http://www.tradersmagazine.com/news/brokerage/itg-drops-ceo-gasser-in-wake-of-dark-pool-fine-114222-1.html?utm_campaign=xtra-aug 3 2015&utm_medium=email&utm_source=newsletter I wonder who is currently the Eliot Ness/Eliot Spitzer of these investigations. He needs to get into the limelight before somebody "offs" him.