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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » COLO - Possible Manipulation by Mubasher?

COLO - Possible Manipulation by Mubasher?

+3
StockGuru
EWML
Business Basil
7 posters

Go down  Message [Page 1 of 1]

Business Basil


Manager - Equity Analytics
Manager - Equity Analytics

Is Direct FN Trading system manipulating Colonial Motors - CM Holdings (COLO) for the benefit of Mubasher Financial Services BSC.

Business Basil


Manager - Equity Analytics
Manager - Equity Analytics

Manipulation definition and its types

Manipulation is any interference in the market mechanism that prevents determination of a fair price, as well as any factor that may affect the stock price artificially. Superficial transactions, Chinese order in a specific volume, increase in company›s stock price  by rumors and stock collection at low prices in order to gain profit are the best examples for manipulation. United States Securities Exchange Commission has defined manipulation as follow: intentional and pre-planned behavior in order to control or to influence artificially to market of special security byinvestors .Market manipulation generally refers to activities that may somehow interfere with the functioning of the free market supply and demand and activists mock demonstration and create a false prices for stock mar-ket, and finally lead to mislead market participants.

Business Basil


Manager - Equity Analytics
Manager - Equity Analytics

Do Automated Trading Systems Dream of Manipulating the Price of Futures Contracts? Policing Markets for Improper Trading Practices by Algorithmic Robots


Gregory Scopino
Cornell Law School

May 2, 2014

Florida Law Review, Vol. 66, 2015, Forthcoming

Abstract:
The trading pits in which floor traders once shouted out bids and offers on futures contracts have given way to electronic, computerized exchanges where trading decisions are initiated and made – not by humans – but by automated trading systems (ATSs). Some ATSs use high-frequency trading (HFT) strategies to place trades in microseconds. Many ATSs have become “self-learning” in that they constantly modify and improve their trading strategies independently from human direction.

Concerns have been raised about HFT firms engaging in manipulative and disruptive trading practices. The Commodity Futures Trading Commission (CFTC) is tasked with keeping the markets free from manipulative and disruptive trading practices, but the question arises as to whether the causes of action available to the CFTC in the Commodity Exchange Act (CEA) can address improper ATS behavior. Most relevant causes of action require proof of a culpable mental state of at least recklessness, which has been described as behavior that departs so far from the standards of ordinary care that it is very difficult to believe the actor was not aware of what he or she was doing. Further, the law only looks for the requisite mental state in the minds of humans.

Accordingly, causes of action that require proof of reckless or intentional conduct are unhelpful where the humans involved with the trading lack the required mental state because an ATS perpetrated the improper acts. As a result, improper trading practices such as banging the close (buying or selling large volumes of futures contracts in the closing moments of a trading day to move the price of the contract), spoofing (placing orders for trades and then cancelling the orders before execution), and wash trading (taking both sides of a trade) could be considered illegal when committed by humans, but not when committed independently by ATSs, despite the fact that the behavior would have the same effect on the markets, regardless of whether the perpetrator was a human or an ATS.

This Article suggests that failure-to-supervise claims under CFTC Regulation 166.3 could hold persons accountable for improper trading practices by ATSs pursuant to a reasonableness standard in situations where registrants (people or entities that must register with the CFTC) fail to prevent ATSs from banging the close, spoofing, or engaging in wash trading. Alternatively, if Regulation 166.3 is viewed as not reaching such conduct, the CFTC could promulgate a rule dictating that registrants who use ATSs must make sure their employees supervise and monitor ATSs for trading practices that mimic prohibited activities. (Or the industry’s self-regulatory organization, the National Futures Association (NFA), could promulgate such a rule.) In the event that a CFTC or NFA rule is viewed as insufficient, Congress could amend the CEA to add an ATS supervisory requirement to the CEA.

Number of Pages in PDF File: 93

Keywords: Dodd-Frank Act, market manipulation, trading practices, financial regulation, futures, swaps, derivatives, Commodity Exchange Act, Commodity Futures Trading Commission, high-frequency trading, automated trading systems

Accepted Paper Series

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2432356

Business Basil


Manager - Equity Analytics
Manager - Equity Analytics

Suspicion of corruption "big" in the Iraq Stock Exchange

Friday, 13 / December 2013 19:32

Twilight News /'s deputy in the Iraqi parliament on Friday that there are doubts the existence of corruption "big" in the Iraqi market for securities, claim the concerned authorities to follow up their work.


The MP for the coalition, the Iraqi Free high Nassif responded in a statement for "Twilight News" that Baghdad market securities is far from government control since 2003.

It added that this may encourage violations and manipulation for stock prices in the stock market ups and downs, as well as the manipulation of the identities of the shareholders.

The Iraq Stock Exchange has started its activity in 2004 and shifted from manual trading to the use of electronic screens deal in 2009, and opened for trading two hours a day, five days a week.

Nassif said that there were doubts in the presence of corruption "big" in this market, which affects the investment sector and the important sectors in Iraq.

She pointed out that the market did not provide Khovath days and transparent mechanism of action for shareholders, and there is no information on the sources of capital and standards adopted by the ups and downs of the stock.

Nassif and confirmed the need to have a Baghdad marketplace for securities subject to the regulatory authorities, and to find a significant role for the government and the Integrity Commission and the Integrity Commission in follow-up work of this market.

The banking sector is the largest in the stock market, which also includes the shares of industrial companies, insurance companies, hotels and agricultural companies.

The total value of shares listed on the Stock Exchange about three billion dollars.

http://translate.google.com/translat...----qq---.html

Mubasher has large footprints in Iraq Stock Exchange.

EWML


Equity Analytic
Equity Analytic

How direct fn manipulate so?

StockGuru

StockGuru
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

EWML wrote:How direct fn manipulate so?

As far as I understand here through software coding and execution coding on stock market transactions that happen via Direct FN platform



Last edited by StockGuru on Fri Sep 26, 2014 2:05 pm; edited 1 time in total

Octopus

Octopus
Expert
Expert

Horungeth Horu Kumba Horu...!
I thought touchwood directors only...!

8COLO - Possible Manipulation by Mubasher? Empty Misleading Accusations without Proof Fri Sep 26, 2014 8:54 pm

prazy2


Stock Trader

Do you know the COLO ownership percentage which is held by Mubasher it is only 0.47% from a company which only has a market cap of 1.1 Billion. So the Mubasher Ownership is only worth 5.1 million. Do you really believe these claims are true? Where is the proof guys ?? Im suddenly seeing a few guys spreading false rumors without any material proof just to mislead & confuse the market. I went through the details Mubasher doesnt have a system in the Iraqi stock exchange.
Please refer : MubasherFS site you will find the information of the markets they are in
Do you think that our guys are more sophisticated & intelligent than the auditors in the US markets linke NYSE & NASDAQ which Mubasher trades at. Do you think that those markets will allow a system with such a back ground trade in US markets ? This is just a gimmick to stop people from trading on Mubasher system. Pathetic is the simplest way to explain this.

SHARK aka TAH

SHARK aka TAH
Expert
Expert

There are some gilmarts brokers get in to jump the cue, this matters if you are doing scalping, so nothing is white and common problems in fast execution glitches........ we had published few videos few weeks ago regarding similar sentiments on algorithm trades.
We should keep a watch on our Limit orders & Market Depth and report if orders not getting filled.
CSE & SEC should keep a watch.

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

SHARK aka TAH wrote:There are some gilmarts brokers get in to jump the cue, this matters if you are doing scalping, so nothing is white and common problems in fast execution glitches........ we had published few videos few weeks ago regarding similar sentiments on algorithm trades.
We should keep a watch on our Limit orders & Market Depth and report if orders not getting filled.
CSE & SEC should keep a watch.


Do algorythmic orders happen in CSE..??
Well, I also suspect it does..

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