You are a year too late to the Igor stuff. It was all over the internet at this time a year ago. By now, most of the guys at the prop firms who were bitching about have just left the index futures game.
This is true Vulture. Do a search on 990 here and see what u come up with. there are lots of conspiracy theories and stories. The fact is, that whoever it is, has done nothing illegal. I really dont see why people would want to complain or have anything to complain about. Jim
I definately saw the articles last year. agreed that most of the guys have just given up on the emini scalp due to high level of nonsense and low volatility.
Just to add a bit to the conversation... When the 990N talk began to pick up, it seemed sensible enough at the time that an "entity" could game the markets during the most illiquid and low volume times of day at least temporarily. Where it stretches credibility is when it is labeled as the overwhelming force for low volatility indefinitely. At this point in time, the structure of the markets is similar to those periods during 2004. In fact, it may be even slightly worse in terms of ranges on your typical day. All I am saying is that if there is something going on, its much larger than 990.
I hear ya Vulture. I do think certain markets could be "gamed" at times especially illiquid ones. I also think that as long as nothing illegal is going on then its fair game. If your working to sell 20 yms on a limit and you pumped in a quick 100 lot bid right below it to try to get your offer filled, then I dont see the harm. If i could manipulate ( maybe wrong choice of words there) or "push" the market in my direction a few ticks without breaking the law then I think I would. I think most people would. I am not a dishonest person but we do this for the money. I think to bitch about it is...well just whinning. (not saying you are doing this at all!) Its an interesting topic. Just wanted to chime in on this slow day. zzzzzzzzz Jim
Guys 990 is a clearing firm designation. That code goes for EVERYONE who clears through Gelber. This could be 500 traders or just one. If they are all getting the same signals or coordinating their efforts, then that is legal as long as they don't exceed the block trading and max position size rules. This is just the way trading has been for a 100 years.