DISQUS

Jason Ruspini · 1 year ago

Regarding the Zelener case, if the traders had the right to offset their positions (that is, exit them before settlement) the forwards would have been considered futures contracts and within the CFTC's jurisdiction. So in order to escape CFTC jurisdiction by qualifying as "spot" otc for retail traders, those traders can't exit their positions. I.e. they can't trade.

http://www.futuresindustry.org/fi-magazine-home...

The CFTC and NFA are working to close the Zelener loophole and will probably do so by 2010 although they seem to be doing it in such a way that will only affect margined/levered traders.

Also I think you technically mean "excluded" instead of "exempt" commodities, which is the reason for the scare quotes there?
Jason Ruspini · 1 year ago

Zelener fix is already there actually.. somehow missed it on thomas.gov first time around.
tiberiu84 · 11 months ago

Today you have a lot of stock trading programs to choose from so just study the market a little bit and see who has the most profitable result and invest with them.
Dow Futures · 8 months ago

Very interesting thoughts here, you have raised some excellent points. I'm downloading the full paper to read it in detail.