Ontario Agriculture

The network for agriculture in Ontario, Canada

Found this and just curious about the validity of the article.

Fact or fiction?  If it is fact, what are the implications?

Lawsuit Stunner: Half of Futures Trades in Chicago Are Illegal Wash Trade

http://wallstreetonparade.com/2014/07/lawsuit-stunner-half-of-futur...

excerpt:

"The most stunning allegation in the lawsuit is that an estimated 50 percent of all trading on the Chicago Mercantile Exchange is derived from illegal wash trades."

"Wash trades were a practice by the Wall Street pool operators that rigged the late 1920s stock market, leading to the great stock market crash from 1929 through 1932 and the Great Depression. Wash trades occur when the same beneficial owner is both the buyer and the seller.  Wash trades are banned under United States law because they can falsely suggest volume and price movement."

Views: 91

Reply to This

Replies to This Discussion

I don't know much about the commodity exchanges but I would hope with their importance that the government watchdogs would  be providing significant oversight to eliminate these types of illegal practices.

Thanks for sharing this post, I am going to do some reading on the topic.

Reply to Discussion

RSS

Agriculture Headlines from Farms.com Canada East News - click on title for full story

Something to ‘bark’ about: trees can improve farmland values

While strong environmental stewardship practices are already present across much of Ontario’s farmland, producers may now have an additional incentive to give back to the land.

‘A double-edged sword:’ horticultural industry faces pricing challenges

Ken Forth, a broccoli grower near Hamilton, Ont., is one of many producers worried about the potential consequences of the recent minimum wage increase.

Seed Synergy Partners Launch New Website And Release Green Paper

The Seed Synergy Collaboration Project has launched a new website, seedsynergy.net, and released a comprehensive Green Paper proposing a vision for the next generation seed system and inviting comments on it.

Farming in the North: groups promoting ag on Crown land

Across Canada, provincial and territorial governments have different procedures for people to follow in order to obtain access to Crown land.

Minister MacAulay promotes agricultural trade and NAFTA at the American Farm Bureau Federation's Annual Convention and IDEAg Trade Show

Canada and the United States share deeply integrated economies and enjoy the largest bilateral trade and investment relationship in the world.

© 2018   Created by Darren Marsland.   Powered by

Badges  |  Report an Issue  |  Terms of Service