U.S. District Court, SDNY, Jane Street, Millennium Management, proprietary trade. “A former Jane Street Group trader who moved to Millennium Management ridiculed his former employer’s claims that he used its secret strategy to make a killing at his new job in India’s options market.” — Bloomberg, MSN.
CoinW Exchange, Dubai. CoinW Exchange, a leading force in the digital asset trading industry, is marking its sixth year with a comprehensive rebranding initiative and the introduction of its Proprietary Trading (Prop Trading) product. This Dubai-based exchange’s latest developments signal a transformative phase in its evolution, aiming to reshape the digital trading landscape. — Yahoo!Finance, Globe Newswire.
The Funded Trader, United States, Cayman Islands, proprietary trade. The Funded Trader announces plans to move headquarters from the United States to the Cayman Islands. — Finance Magnates.
Japan, yen, foreign exchange. Top executives at Japan’s trading houses have warned that the tumbling yen will crimp efforts to expand business overseas. While the weak currency is a boon for profits, because earnings from assets abroad are in US dollars, it also makes foreign investments more expensive, Mitsubishi Corp. President Katsuya Nakanishi told reporters Thursday. “That makes us more wary about investing abroad.” — Yahoo!Finance, Bloomberg.
Education. Prop trading. Retirement. Prop trading continues to grow in popularity among investors of all age groups and income brackets. However, before you go down this path in retirement, there’s a question to answer: Is it too risky, or is it a viable income stream? — Benzinga, MSN.
Today’s definition: front running
Front-running is trading stock or any other financial asset by a broker who has inside knowledge of a future transaction that is about to affect its price substantially. A broker may also front-run based on insider knowledge that their firm is about to issue a buy or sell recommendation to clients that will almost certainly affect the price of an asset.
17 CFR 270.17j-1(b)(4) makes unlawful engagement in any manipulative practice with respect to the Fund. A fund is defined as an investment company defined under the Investment Company Act. A mutual fund would be an example of such a fund.
Alton Drew
2 May 2024
Disclaimer: The above post should not be viewed as investment or legal advice. Consult your attorney or investment adviser before making an investment decision. This post contains affiliate links. Alton Drew may be compensated for traffic driven to products and services as a result of clicking on these links.
This exploitation of information that is not yet public is illegal and unethical in almost all cases. Front-running is also called tailgating. — Investopedia.
(Ready to step up your trading game? Take advantage of these discounts at TopTier Trader. http://toptiertrader.com/?ref=1449)
Lawyers Write the Bets. Bankers Sell the Bets. 