You're now on the archive server. Commenting has been disabled.
Dear FINRA: Pick The "Natural" IOI Out
Dear FINRA,
We know you are busy, we also know you are hell bent on intercepting IOI manipulation as per Mr. Jon Kroeper's recent media appearances. Which is why we kindly request that you get back to us at your earliest convenience with information on how many of the IOIs disclosed below are, in fact, "natural." We will make this a recurring topic on Zero Hedge until such time as you respond to our information request. You can contact us at outsourcefinra@zerohedge.com
We appreciate your prompt attention to the matter
Zero Hedge staff.
»
- 5144 reads
- Printer-friendly version
- Send to friend
Similar Articles You Might Enjoy:
- FINRA Warns Against Fraudulent IOIs Once More... Not Even "Or Else" Follows
- Is Goldman's Selective Trading Disclosure A Legal Way For Preferred Clients To Front Run The Market?
- Screening Walls Will Be The Next Embarrassment For The SEC
- Goldman Busted For "Asymmetric Service Initiative" Aka Leaking Inside Information To Whales
- Got A Hot Tip On Twitter? FINRA Kindly Asks That You Retain That Message
Brilliant in your face challenge by ZH. "FINRA, please explain, yours truly, ZH"
Zero Hedge, asking the difficult questions no one in power wants asked.
Sorry what is the problem with non natural IOI's ? They are as old as the hills!Doesnt an indication of interest just mean you are prepared to deal at that price? clients have only ever wanted to deal with "natural" business anyway and never want their order IOI'd so brokers always say it's natural.. maybe i missed a prior post but i dont see the fuss ?
I throw the flag when the number of non-natural IOI's moves past 100 for each and every natural IOI.
But that's just me.
The non natural IOI's are just there to get the computers to change thier bid/ask spreads. It's fake bidding at the auction.
You are such a shit disturbing ass-hole.
I say that with the utmost respect and admiration!
This is what I love about ZH.
....Like a pit bull with jaws clamped around FINRA's ankle... it ain't lettin' go.
Great Job ZH :)
oh man, would train me how to spot the IOI?
Is gunning SPY part of the IRS-UBS settlement? Or did the monkey just hit the keyboard a few too many times?
At Last.
"IOI's as currently used are like the old Naval "smoke screen" - a tactic used to "screen" one's real intent from observation.
But - along comes Zero Hedge with a technological innovation - RADAR.
FINRA - now what? Please explain.
KptLt. "Laughing Swordfish"
9er Unterseeboote Flotille
simply outstanding work, ZH.
geez, could you -- me being a simple peasant, i can't -- ask the CTFC why I, a mere mortal, am governed by all sorts of limitations at the Comex, but JPM is allowed to hold a galactic-sized short?
a short so big that when coupled with its solar-system-sized shorts in gold, literally endangers the stability of the economy if it explodes?
What's up with the Swiss? Wonder why they finally decided to arrest Roman Polanski.
I wondered that too. My guess is they wanted to show their uber-masters in Sodom-on-the-Potomac that the sons of William Tell are falling in line.
perhaps they decided to start taking out the trash.
So that they can say, "see, we're following all of your rules now. What, you don't actually want him arrested? Well, isn't it a bit silly of you to keep the warrant active? We're just doing what we're supposed to."
from FoxBusiness
http://www.foxbusiness.com/search-results/m/26634826/jpmorgan-announces-leadership-changes.htm#q=dimon
What does this mean?
thank you for attempting to bring credibility back to the market where price discovery can move back toward authenticity. in addition, perhaps instead of going after the short sellers, regulators look at the buying process. because selling is harder to actually manipulate.
outsourcefinra@zerohedge.com
Ha, that actually made me LOL.
What's up with Knight Capital Group (NITE)? Their 1 year chart is truly unbelievable, and looks as if the financial collapse never happened.
Added
From the Knight Capital website: "In the second quarter of 2009, Knight traded an average of 8.7 billion shares per day" 372k a second!
http://www.knight.com/ourFirm/index.asp
These dudes love their IOI's, flash orders, and dark pools. All automated HFT. They started direct edge, which is *still* flashing their customers order to the usual suspects via their ELP program.
As their web page says "they do more volume than any exchange"!!! WTF? At least exchanges aren't allowed to trade against their clients...
Their profits are reaped from retail & institutional (read your mutual and pensions funds) accounts. Fair play?
Congress has long ago given up all moral authority on this issue. But, go figure. When you lay down with whores, expect to wake up with STD's.
Goldman and Bank of Amerika run the markets along with Geithner, and beagle boy Ben. There is no free markets, only welfare capitalism and socialism for capitalism.
good articles; good articles 4 slow news day ..http://www.. hat tip: finance news & opinion updated daily
Mr. Richard G. Ketchum, Chairman & CEO
FINRA
Mr. Ketchum:
Please respond immediately to the matter of IOIs as noted in this Zero Hedge column.
Thank you.
I see no volume spikes on the half hour today even come close to encompassing the UBS purchase at 0830. Does that not show up on TOS?
Love the email address!
Bravo
Grammar nazi here: I prefer "Pick out the 'Natural' IOI". German grammatical form is so...annoying.
Ich bin Chumbawamba.
Oh, that grammar is correct. It's just that the headline got cut off. It originally read "Pick the 'Natural' IOI out...of your ass"
See what I mean?
MAkes you wonder what the thousands of employeed at FINRA and the SEC do all day. I mean seriously. You'd think they can turn off the redtube for a minute and get something done.
LOL
The only worthy thing I've learned watching CNBC over the past year was that redtube.com was a free porn site.
Well worth the cost of the worthless CNBC.
Exclusive: Porn surfing rampant at U.S. science foundation
For instance, one senior executive spent at least 331 days looking at pornography on his government computer and chatting online with nude or partially clad women without being detected, the records show.
http://www.washingtontimes.com/news/2009/sep/29/workers-porn-surfing-rampant-at-federal-agency/?page2
cuz, you can't make this shit up.....
What is it about pocket protector geeks and porn?
Oh.......... never mind. :>)
I'm pretty sure he had a day-trading account and was researching an association between long term porn exposure and portfolio status.
I'm also pretty sure his online name was robotrader.
How does IOI manipulation affect the markets? Could be wrong here but indications of interest are not actual trades of the SPY just indications of potential dealings. Please explain.
it gives the impression that there is real interest (in this case bid side) for the ticker in question. if these IOI's are false - then it is manipulation.
the smoke screen analogy of old naval maneuvers is a good one.
Thank you..
and yet every one of the IOI's on this screen is a "Traded" not "bought" or "sold." right? so it's a total non-issue. It's ADVERTISING - you advertise volume to look like the axe to get the next order.
I wish people would pay more attention to the real story of the day: that FDIC story is probably the most important story in the last 3 months - yet it gets ignored for furor over IOI's.
Intelligent service provision to customers to ensure and improve quality of service around algorithm-selection, execution quality, market structure, technical advice etc.
Goldman and Bank of Amerika run the markets along with Geithner, and beagle boy Ben. There is no free markets, only welfare capitalism and socialism for capitalism.
good articles; good articles 4 slow news day ..http://www.. hat tip: finance news & opinion updated daily
and the train keeps a'rolling
FINRA to ZH:
And who are you exactly? Fuck off. What part of "fascist dictatorship" do you not understand?
You think FINRA gives a rats ass? That ridiculous order isn't a SPY gunner. It's a Howitzer sheller. Any institution that does that in this market is making a Primary Dealer order for Uncle Sam-and he writes the rules. I'd like to know who frontran this big order. Like the 300,000 bought by MLCO.US(Merrill?)
All this shit is going to come tumbling down. When it does, the history books will talk about how it was all caused by computers going insane, a black swan that was too complex for anyone to understand, so there's nothing that could have been done.
Such bullshit.
Maybe history doesn't really repeat but sure as looks like 1987 to me.
gonna get much worse
Goldman and Bank of Amerika run the markets along with Geithner, and beagle boy Ben. There is no free markets, only welfare capitalism and socialism for capitalism.
good articles; good articles 4 slow news day ..http://www.. hat tip: finance news & opinion updated daily
How do you get that bloomberg screen? learning my terminal awesome toy!