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Are all rich people brain dead these days? This guy failed at simply keeping his customers money safe while collecting fees and interests, how the hell would he be able to make profits in the markets?

I hate this place. Full of stupid rich kids getting drunk in the middle of the afternoon. I saw one guy peeing in the pool and another puking in between tables at 5 pm once. It's not even a beach... The beach is on the other side of the parking.

I think the SBF120 would be the closest.

Good points Robert. But in the case of this FTT, the spreads won't increase as MMs are exempt ( and apparently even non-MMs only trading during the day with no position at night are exempt ), so liquidity will be there and there won't be more flash crashes... However, I would like to see...

I just checked the volume on CAC40 stocks since the FTT and across about 25 tickers I downloaded the volume is down around 30%( just a guesstimate ). It's going down a lot in the last few days. It's difficult to know what is due to vacations and what is due to FTT. There was also a lot of...

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This part of the tax is just political. There are no HFT trading firms in France except the usual (bank ) suspects which are exempted of this tax as MMs. They are not expecting any revenue from this. They just want to "stop this behaviour", which in reality will only favour firms outside of...

http://in.reuters.com/article/2012/08/08/korea-economy-tax-idINB9E8GB01P20120808

http://af.reuters.com/article/commoditiesNews/idAFL6E8J6AHC20120806?pageNumber=1&virtualBrandChannel=0

Based on this idea, short Mar-May-Jul Soybean butterfly @ 57 4/8.

I didn't notice anything too weird on Corn, but there is something on soy I can't explain: Why is Mar 13 in a no man's land in the middle of the curve? Nov-Jan are moving really close in unisson much higher while May-Jul are doing the same much lower...? It 's almost as if Mar was an intercrop...

I guess they will start the enhanced cooperation process in December, which means there won't likely be any tax before at least June 2013, more likely January 2014. Hollande was talking about early next year and his partners told him it wouldn't be possible.

You forgot to tell us you were also initially their cousin and all live in the same camper...

http://www.bloomberg.com/news/2012-08-01/mf-global-claims-trade-higher-as-customers-hope-for-100-payback.html

FIA Lukken testifying: http://www.futuresindustry.org/downloads/Senate-Agriculture-Committee-080112-Hearing-Lukken-Testifying.pdf

http://www.desmoinesregister.com/article/20120802/BUSINESS/308020054/-1/checkplayer.js/Futures-regulators-warned?gcheck=1&nclick_check=1 Even senators are talking about the Atlas ratings now. You can be sure that the firms at the bottom have already been controlled( 80% have been controlled...

I don't know how it works in equities but it doesn't sound like ONE MM algo going crazy( one you could pull the plug on in 30 sec), it's more like all Knight's execution network had a problem and they couldn't find how to isolate/ stop it without shutting all their activities.

"Le Monde" confirmed the tax is delayed to December for ADRs.

Perhaps, but I prefer this kind of headlines. It has the effect of officializing the fact that they know what is owed to customers and where it is.

http://www.bloomberg.com/news/2012-08-01/mf-global-customers-will-be-made-whole-freeh-says.html :)