Comments on: Inter-dealer brokers’ inside information http://blogs.reuters.com/felix-salmon/2013/09/25/inter-dealer-brokers-inside-information/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: e-cigarette http://blogs.reuters.com/felix-salmon/2013/09/25/inter-dealer-brokers-inside-information/comment-page-1/#comment-52957 Sat, 27 Sep 2014 16:59:02 +0000 http://blogs.reuters.com/felix-salmon/?p=22521#comment-52957 Kimree is a world-leading e-cigarette company. According to Frost & Sullivan, Kimree was the second largest e-cigarette designer and manufacturer in the world in terms of both revenues and production volume in 2013. The Company designs and produces a broad range of e-cigarette products, including disposable e-cigarettes, rechargeable e-cigarettes and e-cigarette accessories. Visit http://www.kimree.com/ for more.

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By: cheap fifa 15 coins http://blogs.reuters.com/felix-salmon/2013/09/25/inter-dealer-brokers-inside-information/comment-page-1/#comment-52512 Thu, 25 Sep 2014 20:08:58 +0000 http://blogs.reuters.com/felix-salmon/?p=22521#comment-52512 I’m very happy to read this. This is the kind of manual that needs to be given and not the random misinformation that is at the other blogs. Appreciate your sharing this greatest doc.

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By: DavidMerkel http://blogs.reuters.com/felix-salmon/2013/09/25/inter-dealer-brokers-inside-information/comment-page-1/#comment-48221 Wed, 02 Oct 2013 12:10:54 +0000 http://blogs.reuters.com/felix-salmon/?p=22521#comment-48221 I guess there is a broader question here, Felix. Is it legitimate to have a purely private investment market? And variables that are privately determined? Where all business is “Enter/Use at your own risk?”

We have a concept like that regarding accredited investors, for both sophisticated individuals and corporations. What’s happened here and in other places where you have “fixes” in the market price, is that the market has gotten so big that the position of the fix affects a wide number of players, and the variables affect some non-sophisticated players (e.g. an adjustable rate loan that floats off LIBOR).

I wrote an article on this a while ago:

http://alephblog.com/2012/07/05/on-inter nal-indexes-like-libor/

Now obviously, my opinion has been wrong with respect to how the tide of public policy has moved. My point is this: you can dig into a large number of complicated situations, and probably find someone taking advantage of information asymmetries. Is he a trader, an arb, or a felon? If a felon, there are going to be a lot of surprised people who though they were just making an internal market.

As always, I appreciate your work.

David

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By: MrRFox http://blogs.reuters.com/felix-salmon/2013/09/25/inter-dealer-brokers-inside-information/comment-page-1/#comment-48153 Thu, 26 Sep 2013 13:01:52 +0000 http://blogs.reuters.com/felix-salmon/?p=22521#comment-48153 KiddoD, like Matty (‘I love The Street’)Levine, does everything but address the obvious fact that somebody had to have received advance knowledge of the Fed’s decision – there is no other plausible explanation for the sequence of observed trades.

The preferred cover-story is that it must have been those naughty reporters who jumped the gun – not likely, IMO. They were limited to a small group and kept in a locked room. Far more people within the Fed itself knew of the decision, and nobody kept them under lock and key.

Somebody who had the capacity to put $600-million on the table, via direct computer-link to the Exchange, and have the order executed within the space of a few thousandths of a second knew what was going to happen before it was announced. That has to be somebody big in NYC, and those guys are much closer to folks at the Fed than they are to any of blabber-mouth reporters; they should be – NYC rabbis made all of them rich.

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By: KidDynamite http://blogs.reuters.com/felix-salmon/2013/09/25/inter-dealer-brokers-inside-information/comment-page-1/#comment-48152 Thu, 26 Sep 2013 11:32:27 +0000 http://blogs.reuters.com/felix-salmon/?p=22521#comment-48152 @MrRFox –

there are people who understand the mechanics of markets – people like Matt Levine and myself – who understand why this is a non-story.

then there are people who don’t and are looking for useless populist lynch mobs.

of course, Levine explained this all in his post. I also explained it in a post Levine linked to. The answers are all there if you really want to understand reality instead of looking for an enemy to blame.

good luck.

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By: MrRFox http://blogs.reuters.com/felix-salmon/2013/09/25/inter-dealer-brokers-inside-information/comment-page-1/#comment-48151 Thu, 26 Sep 2013 04:06:16 +0000 http://blogs.reuters.com/felix-salmon/?p=22521#comment-48151 As between KidD, a certain blogger, and Matt Levine – who’s the biggest Wall Street shill?

“Non-story”, Kid – $600-million put on the table in a few micro-seconds? This isn’t a couple of wise guys bribing some low-rent scribe, ya’ know. Most plausible, the tip had to come from inside the Fed, and be passed on to someone with real sway on The Street.

There is a ‘paper trail’ – easy enough to find out, if rabbi Lew cares to do so, who placed the offending trades; from there it’s just a matter of sweating the truth out of whoever that was until he spills the truth about where the tip came from. “Non-story” – IDTS. An ugly story our conflicted masters in DC don’t care to pursue – that’s more the ticket IMO.

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By: KidDynamite http://blogs.reuters.com/felix-salmon/2013/09/25/inter-dealer-brokers-inside-information/comment-page-1/#comment-48150 Wed, 25 Sep 2013 22:00:10 +0000 http://blogs.reuters.com/felix-salmon/?p=22521#comment-48150 Matthew_Saroff:

here’s a good post on that total non-story:

http://www.bloomberg.com/news/2013-09-25  /eric-schneiderman-wall-street-time-mac hine-sheriff.html

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By: Matthew_Saroff http://blogs.reuters.com/felix-salmon/2013/09/25/inter-dealer-brokers-inside-information/comment-page-1/#comment-48149 Wed, 25 Sep 2013 19:46:14 +0000 http://blogs.reuters.com/felix-salmon/?p=22521#comment-48149 I’d like to see how this compares to the trading irregularities om Chicago regard the Fed and the Taper.

Someone traded the instant the news was announced, but as they were in Chicago, they so got a 7 millisecond head start courtesy of the speed of light, and conducted $600m worth of trades.

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By: MrRFox http://blogs.reuters.com/felix-salmon/2013/09/25/inter-dealer-brokers-inside-information/comment-page-1/#comment-48148 Wed, 25 Sep 2013 18:15:34 +0000 http://blogs.reuters.com/felix-salmon/?p=22521#comment-48148 Hmm … isn’t what these guys appear to have done trivial in comparison to what HSBC was allowed to walk away clean from? And we all do recall the perfect justice of that, as explained to us by a certain blogger, don’t we?

What’s the point of even talking about things like this any longer?

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By: KidDynamite http://blogs.reuters.com/felix-salmon/2013/09/25/inter-dealer-brokers-inside-information/comment-page-1/#comment-48147 Wed, 25 Sep 2013 17:41:15 +0000 http://blogs.reuters.com/felix-salmon/?p=22521#comment-48147 Felix – please let me know when you start selling “Lord Libor” t-shirts. I want one.

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