|
PureBytes Links
Trading Reference Links
|
Thanks to everyone for all your comments.
"A smart man learns from his mistakes and a Wise man learns from the
mistakes of others".
I am going to send a letter to the CFTC in regards to my hearing at the
CME. The main point that I will cover is that I feel very strongly that
the public is at a disadvantage at these hearings.
The CME or any exchange, should provide all documentation available
from all parties, for all parties, in regards to any hearing that goes
before a panel.
It should not be the burden of any party to obtain any information that
the exchange has in regarding a particular transaction, or lack of one.
If the CME had provided me with an accurate Time and Sales, I feel
strongly that I would have won my hearing. The fact that I had a
Offical Time and Sales from the Chicago mercantille Exchange that was
incorrect for 11 months, and no effort was taken by the CME to correct
it prior to the hearing is inexcusable. I had to rely on the information
that the CME provided me. I had no reason to question that Time and
Sales report. I knew that it was a very busy day, However there were
only 25 or so trades all day in that particular option.
I will be honest with everyone and tell you that although we had several
additional points to make at the hearing, we were taken back by that
disclosure. That was our main point. I felt I knew the facts better
than anyone in that room and I did on more than one ocassion correct
panel members and exchange officals as to the information they asked and
tried to present. However,I will say that I lost my place and forgot to
make some points due to this sudden disclosure that the Time and Sales
were incorrect. You should not be required to be expert in these type of
proceedings and if the facts are going to change while the hearing is in
progress, that is exactly what you will need.
An offical document should not be changed at the last minute. It is
unfair for any court or panel to change information during the trial or
hearing.
Regards,
Tom Brun
TCFRMR@xxxxxxx wrote:
>
> Thomas Brun's experience made a deep impression on me. I created a worksheet
> in one of my Excel Account Workbooks labelled CME Arbitration and have pasted
> in critical points from the various posts on this subject for future
> reference. I hope I never need it.
>
> Thankyou for taking the time to share it.
>
> Susan Russell
|