Intercontinental Exchange admits metals market vulnerability to rigging

Section:

'Flash Boys'-Style Speed Bump Planned for Futures Markets

By Nick Baker
Bloomberg News
Wednesday, February 13, 2019

Intercontinental Exchange Inc.'s futures market wants to join the battle against the fastest traders.

The Atlanta-based exchange plans a 3-millisecond trading delay, or speed bump, for its gold and silver futures contracts, according to a regulatory filing. The U.S. Commodity Futures Trading Commission today asked for public comment on the proposal.

... Dispatch continues below ...



ADVERTISEMENT

Fisher Precious Metals is preparing and equipping clients for the upcoming 'Everything Bubble'

Fisher Precious Metals, voted North America's bullion dealer of the year for 2018 and known for personal service and great pricing, has been helping Americans and Canadians protect their wealth with precious metals for more than a decade. Enjoying a five-star client rating across the internet with no complaints at the Better Business Bureau, the team at Fisher Precious Metals works hard to serve you.

We have helped thousands of clients in buying and selling bullion, arranging segregated and offshore storage, establishing precious metals IRAs, and obtaining certified precious metals appraisals. We provide security to our clients with our Bullion Authenticity Guarantee. We recommend that you read our article "How to Avoid Bullion Counterfeits":

https://fisherpreciousmetals.com/precious-metals/bullion-authentication/

As a family-owned business, we strive to help you assess your wealth-protection goals and overall investment objectives. From the new precious metals buyer to the seasoned bullion investor, we are here to help you with a no-pressure, confidential consultation. Rest assured that everyone in our firm owns physical precious metals and no one is compensated via commission -- period.

Fisher Precious Metals is your full-service precious metals investment partner for life. Please call us at 1-800-390-8576 or visit us here:

https://fisherpreciousmetals.com



Michael Lewis's 2014 book, "Flash Boys," popularized the idea of using speed bumps to curb the light-speed pace of modern financial markets and prevent alleged abuses of so-called high-frequency traders. Lewis' protagonists, the founders of IEX Group Inc., introduced a delay on their stock exchange in 2016, and a tiny equities market ICE owns, NYSE American, also has one. But this latest move would bring a speed bump to derivatives markets.

The delay would be introduced “initially” for gold and silver, areas where ICE currently does very little business. An ICE spokesman declined to say whether it would later be applied to other markets. ICE is a leader in other products such as oil futures. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2019-02-13/a-flash-boys-style-sp...

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16