Understanding Futures Transaction Flow – A Basic Introduction

Over the years, I have heard everything from overly-simplified to overly-complex descriptions of how listed futures trades are processed. For the purpose of clarity, the following flow diagram is one that I have used to explain the trade flow process to many people entering the industry. However, each Futures Commission…

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Momentum Ignition: Arson for Financial Markets

ESMA has defined momentum ignition as a case of prohibited market manipulation. ICE Canada considers this to be disruptive, and so does the CME Group. One UK government report stated that momentum ignition will “induce algorithms to compete with other algorithms, can push prices away from fundamental values.”* This leads…

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