CFTC execs says front running legal
Oh shock! It is legal according to this exec from the CFTC
“The big game in this hunt became known as a whale-an order from a leviathan fund company such as Fidelity, Vanguard, or Legg Mason. If the algos could detect the whales, they could then have a very good sense for whether a stock was going to rise or fall in the next few minutes or even seconds. They could either trade ahead of it or get out of its way. The bottom line: Mom and Pop’s retirement accounts were full of mutual funds handing over billions of dollars a year to the Bots.”
http://www.tradersmagazine.com/news/viewpoints/are-pinging-and-front-running-legal-one-cftc-exec-says-no-113471-1.html
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