CMC markets -legal action

This is a discussion on CMC markets -legal action within the The Foyer forums, part of the Off the Grid category; Originally Posted by A Dashing Blade Apols for being too "forthright" alan . . . Lets take an index as ...

Closed Thread
 
LinkBack Thread Tools Search this Thread
Old May 30, 2008, 1:21pm   #111
 
alan5616's Avatar
Joined Jan 2006
Quote:
Originally Posted by A Dashing Blade View Post
Apols for being too "forthright" alan . . .

Lets take an index as an example

say it's value is 1000

say I, as a market maker, make a price 995-1005

say I get hit and lifted but in unequal amounts

eg 5 units gets sold to me at 995, 100 units get bought from me at 1005

I'll then adjust my price to reflect the fact that I'd rather buy than sell compared to other MM's (MM's attempt to keep a flat book and simply cream in the bid/ask spread)so my next price will be something like 998-1008 even tho' th market hasn't moved.

Enlightened?

(pretty sure I've got all that the right way round)

Oh yeah, forgot the bit about the instrument MM's would use to hedge their position, in the case of an index, it'll be the future rather than the actual index value itself, but we'll leave that for another time
Obviously, a SB can do what they want with the price. I must be lucky that the SB, I use, positions their spread either side of the actual exchange traded price.
alan5616 is offline  
Old May 30, 2008, 1:23pm   #112
Joined May 2008
onemillion started this thread
Quote:
Originally Posted by arabianights View Post
Is your complaint that CMC are offering you entirely different prices to those they are offering different clients?

If so why don't you just arbitrage this?
What these companies do, is that intentionaly they execute or offer you the worst price while they execute your orders at best price in the market. Differance goes to them. Way they do this is to direct your order to a dealer who can delay and take advantage in anyway he/she likes. If you hundreds of trades in a day like i do, that can moke a lot of money for the company. That is illigal. this is manipulating the market price.
onemillion is offline  
Old May 30, 2008, 1:45pm   #113
 
Vaco's Avatar
Joined Apr 2004
Quote:
Originally Posted by onemillion View Post
What these companies do, is that intentionaly they execute or offer you the worst price while they execute your orders at best price in the market. Differance goes to them. Way they do this is to direct your order to a dealer who can delay and take advantage in anyway he/she likes. If you hundreds of trades in a day like i do, that can moke a lot of money for the company. That is illigal. this is manipulating the market price.
Futuresbetting.com will be relaunching soon, I believe that they are what you are looking for. Below is an interview with them

FuturesBetting.com Interview
Vaco is offline  
Old May 30, 2008, 1:53pm   #114
Joined May 2008
onemillion started this thread
Quote:
Originally Posted by Elefteros View Post
Futuresbetting.com will be relaunching soon, I believe that they are what you are looking for. Below is an interview with them

FuturesBetting.com Interview
thanks. it will be good if they do what they say.
onemillion is offline  
Old May 30, 2008, 1:58pm   #115
Joined May 2008
onemillion started this thread
Quote:
Originally Posted by onemillion View Post
thanks. it will be good if they do what they say.
But you have to be carafull bcos they are in Gibraltar which means your money will be totaly outside the safe guarding client money rules. So, if they make a huge bet and lose, your money will go as well.
onemillion is offline  
Old May 30, 2008, 1:58pm   #116
 
Lee Shepherd's Avatar
Joined Feb 2008
Quote:
Originally Posted by onemillion View Post
thanks. it will be good if they do what they say.
Why don't you go straight to market?
Lee Shepherd is offline  
Thanks! The following members like this post: new_trader
Old May 30, 2008, 2:01pm   #117
Joined May 2008
onemillion started this thread
Quote:
Originally Posted by Lee Shepherd View Post
Why don't you go straight to market?
i am looking at few options at the moment. but i need marjin trades so i can take bigger risks and return (or loss)
onemillion is offline  
Old May 30, 2008, 2:03pm   #118
 
A Dashing Blade's Avatar
Joined Jul 2004
Quote:
Originally Posted by onemillion View Post
But you have to be carafull bcos they are in Gibraltar which means your money will be totaly outside the safe guarding client money rules. So, if they make a huge bet and lose, your money will go as well.
er no . . . everyone got monies repatriated in full within 5 days after their recent troubles + monies were held in Lloyds Bank london-based segregated client accounts
A Dashing Blade is offline  
Old May 30, 2008, 2:04pm   #119
 
new_trader's Avatar
Joined Jan 2006
Quote:
Originally Posted by Lee Shepherd View Post
Why don't you go straight to market?
Way too sensible isn't it? All these S/Betters complaining but still avoid taking the professional route...betting pennies because it is tax free...
new_trader is offline  
Old May 30, 2008, 2:05pm   #120
 
A Dashing Blade's Avatar
Joined Jul 2004
Quote:
Originally Posted by onemillion View Post
i am looking at few options at the moment. but i need marjin trades so i can take bigger risks and return (or loss)
yet another hilarious quote on so many levels!
A Dashing Blade is offline  
Closed Thread

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Is it legal for me to spreadbet? sak07 Spread Betting & CFDs 12 Feb 28, 2008 10:06am
Is it legal? vagroupnet Home Trader 0 Oct 29, 2007 3:01am
Any legal eagles on here? FTSE in mouth The Foyer 0 Nov 15, 2006 5:31pm
Legal Question trendsignal UK Educational Resources 12 May 3, 2004 8:12pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)