A widely reported move by the New York attorney general to investigate possible spoofing in forex options for emerging market (EM) currencies could put regulatory and enforcement efforts at odds, making it difficult for this segment of the market to develop and even pushing such trades into dark pool territory.
Spoofing is a form of manipulation that involves placing fake orders in the market with no intention of executing them. These orders create the illusion of demand, leading traders to
- Asia moves: Natixis sales head moves to Barclays, new banking head for StanChart Singapore, and more
- Functional programming reaches for stardom in finance
- Banks use machine learning to ‘augment’ corporate sales
- First SOFR term rate coming in 2020
- Buy-siders eye ways to get ahead of US resolution stay rules