Metals SpoofingHello and good afternoon Wallbridge Longs:
Well if we thought that markets were not often manipulated now we know for sure that it happens and often. Scotiabank finally got caught and penalized! About time.
The fines and enforcement actions stem from an investigation into Scotia’s metals trading division. American authorities said that on thousands of occasions between January 2008 and July 2016, four Scotiabank traders placed orders to buy and sell precious metals contracts with the intent to cancel those orders in an attempt to manipulate prices. The traders were based in New York, London and Hong Kong, according to the U.S. Department of Justice.
Yellowknifer