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The Silent Screams of the Bitcoin Shorts Blog,Commentary,Feature,Fintech,Investing & Trading,Mwiki,ReformWiki,Tech / HFT

If bitcoin were a standard commodity or securities instrument, headlines would be screaming about how the “shorts” were being squeezed. With bitcoin in a parabolic price rise, some calling it a mania, there are no shorts to scream bloody murder. Many commodities and companies have key constituents who apply political pressure when futures markets are moving so sharply that common sense tells you there is something wrong or unbalanced happening in the market. Sometimes rules are changed or obscure procedures exercised at futures exchanges in order to accommodate an orderly liquidation of positions in cases where the powers that be…

Bloomberg’s Matthew Philips Wrong On HFT and Don Wilson Commentary,Tech / HFT

John Lothian

It is clear to me that Bloomberg reporter Matthew Philips does not understand what he is writing about in his story about Don Wilson and his conflict with the CFTC. Mr. Philips tries to frame this story in his lead paragraph as the “opening salvo” between the CFTC and high-frequency traders. It is not. He is wrong. So let’s dismiss this argument first. There is no high-frequency trading in swaps trading. Period. Perhaps when we get the SEFs fully up and running and all potential swaps dealers are registered and participating, then we could see some HFT. Until then, this…

Class Action Lawsuit Filed Against LME and Goldman Sachs Alleging Aluminum Manipulation Blog,Metals,Regulation

Aluminum

An aluminum processing company has launched a class-action lawsuit against Goldman Sachs and the London Metal Exchange alleging that they conspired with each other to restrain supplies of aluminum in the LME warehouses and inflated aluminum prices. The complaint accuses the two companies of violating the Sherman Anti-Trust Act by agreeing to operate in “an extremely inefficient manner” and to “provide extremely low quality of service” in the warehousing arena. The class-action suit, brought by Superior Extrusion, Inc. et al., comes shortly after a New York Times article broke the story that Goldman Sachs was profiting – at the expense…