Ummm, because it's been against the law for quite some time now. https://www.sec.gov/fast-answers/answerstmanipulhtm.html "Manipulation is intentional conduct designed to deceive investors by controlling or artificially affecting the market for a security. Manipulation can involve a number of techniques to affect the supply of, or demand for, a stock. They include: spreading false or misleading information about a company; improperly limiting the number of publicly-available shares; or rigging quotes, prices or trades to create a false or deceptive picture of the demand for a security. Those who engage in manipulation are subject to various civil and criminal sanctions."
FCA Goes After BAML Trader for Baiting Algorithms into Trading https://www.financemagnates.com/ins...-goes-baml-trader-baiting-algorithms-trading/ Those poor defenceless innocent algos!
McD's also isnt trying to auction their burgers. Anyone trading size know the book is bullshit. Especially during volatility.
I know. I asked why. And i dont need anything from the SEC, they dont know shit. Anyone with half a brain would be over-qualified to work there.
Somehow these "dimwits" you loathe referred this case to the US D.A., the British legal system and compelled this guy to rat out his compatriots and disgorge everything he had over it all... Every electronic order has a footprint.
Exactly my point, theyre so clueless they need his help to bust anyone. Back to what i was saying, why does a global market need 100% accurate market depth to function properly lol. Its almost a joke and its sad its not. He took advantage of predatory algo's and he's getting busted for it.
Alrighty then, I will give you a better answer. Just because. Happy now? Let me ask back, why shouldn't it be illegal? What legal purpose could it have, what is actually useful for market participants By the way, you can cry about the law, but you can not argue the law in court. Just in case you ever get caught spoofing or running an online black market...
Have you tried to trade against algos? Spoofing is the best way to profit from them considering most of them are just really really fast front-runners. It amazes me that any discretionary trader would actually be in favor of banning spoofing. It would be an effective tool to use against bots (if it weren't illegal).
Maybe they should put the person who invented the operating system that Mr Thakkar used to program his trading platform. If you are going to irrationally go after him, why stop there?