What is this guy talking about? AMP

hilmy83 said:
they really don't like that FOK....

whatever. i'll change it to DAY.

But for them to make statement that I put on hundreds of orders and cancelling is spoof accusation and I asked for proof. Maybe NFA or CFTC can look into it if they are being truthful
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It's not like they don't like FOK orders. It's just that the way you are doing it is disruptive to the exchanges and creates the potential for market manipulation even though you weren't doing it.

To me it's a program design issue that you just need to rectify.
 
hilmy83 said:
but FOK shouldn't even be a reason. I'm surprised they even mention it
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They mentioned FOK because that's the order type that showed up on their system. You should still be able to use FOK orders just not the way that you did it with your program.
 
Brokers in general don't like activity that does not generate trades (obviously). So if you send 1000 orders out of which 1 executes, that's not an ideal situation. If you do that over a month, that will go under the radar. If you do it over a day, they will notice.
 
terr said:
Brokers in general don't like activity that does not generate trades (obviously). So if you send 1000 orders out of which 1 executes, that's not an ideal situation. If you do that over a month, that will go under the radar. If you do it over a day, they will notice.
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Dude, this had nothing to do with profitability for AMP, and everything to do with spoofing rules at the CME.

You haven't reviewed how bad the ban-hammer can come down on firms that allow this. AMP was being proactive on it.
 
terr said:
Brokers in general don't like activity that does not generate trades (obviously). So if you send 1000 orders out of which 1 executes, that's not an ideal situation. If you do that over a month, that will go under the radar. If you do it over a day, they will notice.
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Overnight said:
Dude, this had nothing to do with profitability for AMP, and everything to do with spoofing rules at the CME.

You haven't reviewed how bad the ban-hammer can come down on firms that allow this. AMP was being proactive on it.
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guys...this has nothing to do with the broker or spoofing. CME has clear rules about using its connectivity and his algo violated it
 
hilmy83 said:
View attachment 285481
He's saying im putting on hundreds of orders. This is crazy. Please somebody help me with this.
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hilmy83 said:
but FOK shouldn't even be a reason. I'm surprised they even mention it
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This is called "Spoofing" and is technically banned after the 2010 flash crash. The exchanges will not only ban you but will likely roast your ass with lawsuits if they find you're really spoofing.

Edit: I didn't read the entire thread before posting and it sounds like I'm merely regurgitating what others said before me.
 
hilmy83 said:
but FOK shouldn't even be a reason. I'm surprised they even mention it
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The key problem is the far away from market price, which guarantees the orders are killed. FOK is important because the orders are immediately cancelled, and serve no purpose.

Perhaps the AMP rep could have worded their initial email differently, but it's nice they brought the problem to your attention and gave you a chance to correct your auto program.

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schizo said:
This is called "Spoofing" and is technically banned after the 2010 flash crash. The exchanges will not only ban you but will likely roast your ass with lawsuits if they find you're really spoofing.

Edit: I didn't read the entire thread before posting and it sounds like I'm merely regurgitating what others said before me.
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pls...stop with this spoofing bullshit. OPs issue has nothing to do with it. You can spoof with limit orders but not with FOKs
 
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