JPMorgan Whistleblower

Discussion in 'Commodity Futures' started by Dogfish, Mar 15, 2012.

  1. Dogfish

    Dogfish

    Don't the CFTC have some sort of vetting process for emails like that? I was alerted to it by an oil broker and I have no positions in metals just put it up to see what others thought, didn't think it actually contained much bothering with to be honest.

    Didn't sound quite like Citi's "Dr Evil" trade of Aug '04 which nearly buried me.

    "The market was thrown into confusion on 2 August 2004 when Citigroup pushed through EUR11 billion in paper sales in two minutes over the automated MTS platform. As the value of futures contracts fell and traders moved to cover their positions, Citigroup re-entered the market and bought back about EUR4 billion of the paper at cheaper prices. The strategy was dubbed Dr Evil, after the Austin Powers character, in an internal e-mail circulated by the traders."
     
    #11     Mar 22, 2012