What kind of brokers do this? Expand please.
Brokers forward your identity to the market with each trade.
- Thread starter bookish
- Start date
I'm not saying they are doing this. If they have the identity of a trader, they can do this.
Don't think serious brokers (or exchanges like CME would forward this info to other market participants) without it being specified in your legal agreement, given their size and legal ramifications. But hey, this is speculation on my part.
With CFDs from less credible platforms I would essentially expect shit like this. But it needs not necessarily be a problem depending on your type of trading. There are a lot of worse things they can do given the opaque structure.
With CFDs from less credible platforms I would essentially expect shit like this. But it needs not necessarily be a problem depending on your type of trading. There are a lot of worse things they can do given the opaque structure.
The best thing CFD brokers do is to widen the spreads...
Yeah sure. Trading with narrow stops is a bad idea.
All futures brokers must send a unique Tag 50 ID for a client when sending orders.
The Tag 50 ID alone is just "An alphanumeric value that cannot have spaces and cannot exceed 18 bytes." So it's any string of up to 18 characters like letters and numbers. I can see how that's necessary to help enforce certain rules, like not trading against yourself (crossing) which is prohibited.
This doesn't necessarily mean the CME also has your personal details (first name, last name). Such registration of additional details at the CME under your Tag 50 ID is another step and required only for certain traders, see below. It seems to be the case whenever you're getting exchange membership fees or other incentives.
Source: https://www.cmegroup.com/education/...quirements-registration-and-requirements.html
The Tag 50 ID alone is just "An alphanumeric value that cannot have spaces and cannot exceed 18 bytes." So it's any string of up to 18 characters like letters and numbers. I can see how that's necessary to help enforce certain rules, like not trading against yourself (crossing) which is prohibited.
This doesn't necessarily mean the CME also has your personal details (first name, last name). Such registration of additional details at the CME under your Tag 50 ID is another step and required only for certain traders, see below. It seems to be the case whenever you're getting exchange membership fees or other incentives.
Source: https://www.cmegroup.com/education/...quirements-registration-and-requirements.html
They are not trading your personal information. There is no cabal.
This Tag50 stuff does not apply to the little retail guy. It applies to the people at large institutions who trade on behalf of the little guys. The ones who are actually executing orders at the exchange level. You know, members of the clearing firms!
I repeat, there is NO CABAL!
If you are really that worried, get LifeLock™.
How is that gonna help?
What is bookish worried about? Your personal information going out over the Internet of all Things?
Or are you worried about your trading exchange having your personal identity including your first and last name, SS#, home and mailing address, passwords to your account, banking information, tax returns, name of first pet and mother's maiden name?
What is the concern, man?
There is no CABAL.
Be serious. Nobody gives an iota of a damn about your actions.