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I read a fair portion of it and it looked like a CFTC whitewash ... "ok
now boys, you didn't handle things right this time so get your act
together". The technology to maintain an orderly market and proper audit
trails has been around - the CFTC should have fined the exchange a
million for failure to maintain an orderly market with adequate paper
trails - that would have gotten results. One can imagine how the CFTC
report for the February debacle will read ... "ok now boys, you didn't
handle things right this time, so get your act together".
Earl
----- Original Message -----
From: <I4Lothian@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, March 15, 2000 8:57 AM
Subject: [RT] Re: FUT: time & sales needed
> The CFTC recently issued a report about the snafus of September in the
Gold
> options pits. It is worth reading to get an understanding for the
state of
> affairs in New York, especially for the small lot trader.
>
> Here is the link for the story:
>
> <A HREF="http://www.cftc.gov/opa/press00/4380-00.htm";>CFTC Gold
Options Press
> Release</A>
>
> <A HREF="http://www.cftc.gov/tm/gold_options_report031000.htm";>Full
Story</A>
>
> Regards,
>
> John J. Lothian
>
> Disclosure: Futures trading involves financial risk, lots of it!
>
> Disclosure: John J. Lothian is the President of the Electronic Trading
> Division of The Price Futures Group, Inc., an Introducing Broker.
>
>
>
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