That is what I hate about every rule the CME has... They write the rules so they can be interpreted 10 different ways and its impossible to know if you are in violation or not. In general they give you some leeway if you have minor violations as long is it is not a major or repeated offense.
Exchange seats - worth buying?
- Thread starter Ghost of Cutten
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Totally.
My other favorite is regulation. I get to pay the regulators who then come up with outdated cryptic rules which involve things like faxes and are impossible to comply with 100% in a modern trading environment. So I get to pay for them to dream up irrelevant, impossible rules which they then can fine me for breaking.
Here's a fun example, giving out my business card with my company name on it can be considered a violation of the advertising rules if the business card has not first been approved by the regulator (during the first few months). Even when I'll never have clients.
Sometimes, in my dark moments I think: Come on, most of us have lived in Chicago where politician --> felon --> motivational speaker is a recognized, valid career path. Let's just call this all honest extortion and codify it.
My other favorite is regulation. I get to pay the regulators who then come up with outdated cryptic rules which involve things like faxes and are impossible to comply with 100% in a modern trading environment. So I get to pay for them to dream up irrelevant, impossible rules which they then can fine me for breaking.
Here's a fun example, giving out my business card with my company name on it can be considered a violation of the advertising rules if the business card has not first been approved by the regulator (during the first few months). Even when I'll never have clients.
Sometimes, in my dark moments I think: Come on, most of us have lived in Chicago where politician --> felon --> motivational speaker is a recognized, valid career path. Let's just call this all honest extortion and codify it.