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Unfair Practices
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redbean



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PostPosted: Fri Feb 19, 2010 9:41 am    Post subject: Reply with quote

Crying foul

The way Genting is being sold down over the last few days is a nasty example of what can happen to any stock in the market and how big funds, with the aid of programme trading, unlimited limits, low clearing fee, low or no commission and script borrowing can reap immoral and unfair profits at the expense of the small investors.

Someone must cry foul to the MAS to prevent the slaughtering and robbing of the small investors. The Remisier Society, SIAS and reporter/journalists should do more ground work to see how destructive the current system is and how it could damage and destroy the stock market over time.
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redbean



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PostPosted: Tue Mar 23, 2010 8:47 am    Post subject: Reply with quote

Another shark in the pond

Goldman Sach is now a full clearing member of SGX. Is it good news or bad news for the small investors? We have seen how the stock markets have been transformed into a casino without the stringent rules governing casinos. We have seen how the odds have changed into a vicious cycle where the big hedge funds have huge unfair advantages over the small investors.

Now Goldman Sach is in our water. Would this shark gang up with all the other sharks to eat the small fishes or would it fight with the other sharks for a share of the pie? Would it make things worst for the small investors?
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redbean



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PostPosted: Mon Jan 17, 2011 8:18 am    Post subject: Reply with quote

Perfect solution to the stock market farce

Asian stock markets are being coerced to cut down their lunch breaks, and better, no lunch breaks to increase their productivity and facilitate cross border trades. The latest victim is Hongkong halving its lunch break from 2 hours to one hours. Tokyo too will have its lunch break cut. Singapore is contemplating of doing away with the lunch break completely, which is likely to happen on 1 March.

One of the solid reasons given is to reduce the advantage/disadvantage of differences in trading hours. By doing away with lunch breaks and to extend the trading hours, stock exchanges will now operate with at least similar trading hours or overlapping hours. That will ease off a lot of the disadvantages.

To me this is a little foolish. As long as the stock markets across the world are operating at different hours because of the different time zones, no amount of time adjustment or no lunch breaks can be of any great help. The advantage is minimal but the price paid by the stockbrokers is not small.

There is a perfect solution to all the farce about different trading hours and trying to bring them as close as possible. Actually there are two answers. One is to operate stock markets on a 24 hour basis. The second is to use Greenwich Time and all stock markets shall operate at the same hours. See, all the farce will go away.

Stupid problems need to be solved by stupid solutions. Red herring problems can be solved by applying twisted logics.
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redbean



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PostPosted: Thu Jan 27, 2011 10:08 am    Post subject: Reply with quote

Crying foul again!

Super computers and high speed trading system in equity and derivative tradings. These traders are armed with the latest technology, computer systems and algorithms to place their bets in the stock markets. The technology gives them the advantage to buy and sell at the best price after having a quick peep at all the orders in the market. And they have a big war chest to back up their bets to drown out the small traders.

Now, is this a game of pokers, a game of chance, or stock trading? Is it investing or gambling?

Who are the big traders with their expensive gambling machine playing against? Are they gambling against their peers with the same formula 1 machine or are they cheating or violating the small investors? When they are competing against the same kind with the same level of resources, technology and equipment, it is fair play. But if they are employing their mean machine to take advantage of the small and ill equipped investors, someone must cry foul.

Fair play is what stock markets swear to do. Protecting the small investors against foul play, against being taken advantage of by unfair practices is what the stock markets stood for. By allowing such machine to maul down the innocent small investors must be a serious breach of the integrity of stock market principles and operations. If not, stock markets must be renamed as casinos and be governed by the rules of gaming applicable to casinos.
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redbean



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PostPosted: Thu Feb 10, 2011 5:39 pm    Post subject: Reply with quote

MAD-ness in the financial world

The concept of MAD, Mutual Assured Destruction, used to be only applicable to superpower conflicts where both parties will destroy each other with their WMD. The end of the world consequence of this concept is enough to bring fear and prevent any crazy hot heads from attempting war with nuclear weapons.

This term is gaining relevance in the financial industry with all the devious and greedy men in charge. They all think very big, with big machines in the forms of high speed computers and networks to link all the markets together. What this means, simply, is that all the big guns can be trained at one market and blasts it to the end of the Universe. Impossible, they said. There will be no collusion of that sort, market forces and regulations will not allow it to happen. Really? When there is GREED!

The financial world is so corrupt that with all the devious men in charge, all the classical rules to ensure fair play have been shoved aside and buried. Fair play, level playing field, transparency, cornering the market, buy and sell without change of ownership, false trading, churnings, syndicates manipulation, etc etc are now part of the game. We are seeing the breaking down of all good regulations, even deregulations, concocting systems for the big funds to take the fullest advantage of technology and their financial muscles to wipe out the markets.

Theoretically it sounds fantastic and super efficient when the whole world and all the fund managers can trade in every market at the same time. It is an ideal market, with many players to allow the free market forces to run at its most efficient manner. In reality, a financial holocaust is waiting to happen when the power of destruction is in the hands of a few irresponsible and greedy men with no morals or responsibility except to make profits at any cost.

God is great. It allows ingenious men to scheme together to meet at Armaggeddon happily, and thinking that they are very clever, to create the mother of all systems for self destruction. Globalisation, interconnectivity, de regulation, mergers, etc, etc, all points to one end.

The rogues never think that they are the rogues. And they are in charge.
We have experienced the frightening story of too big to fail. The next big story is too big for the good of everyone. The big funds, when acting in unison, can be more destructive than WMD. The world was given a glimpse of what is yet to come during the financial crisis. If the rascals in the financial industry are allowed to do what they wanted, we will get there sooner. They are linking all the markets together, to be burnt together at one go.

Does it ring a bell? It is happening in Hongkong today!
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redbean



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PostPosted: Tue Feb 22, 2011 9:55 am    Post subject: Reply with quote

Conning the silly Asian Asses

The big Western banks and funds are managed by their best financial and engineering talents and are out to rob the world. They have conceived and designed the most complicated and advanced financial systems that almost guaranteed maximum profits and minimum losses to themselves. And they are selling these systems to the silly Asian Asses who bought them hook, line and sinkers. They only need to dangle the carrot of a combined war chest of several hundred billions of cash. They will bring the cash to the silly Asian Asses if the latter would abide by their terms and conditions, and how the game should be played. They can’t be bringing their war chest to give away to the silly Asian Asses for sure. They are there to rob!

The American regulators have now understood how and what these reckless and irresponsible bankers are doing, gambling with high stakes, using other people’s money. They can’t lose, except other people’s money. And they stand to win and line their pockets with millions when they have control of the game.

Paul Geithner in his latest speech called for an international system to prevent these rogues from gambling and robbing the innocent investors of their money. America is working out a system to tighten and regulate the activities of these big financial robbers and wanted the rest of the world to implement the same tight regulations to curb this menace. Geithner wanted to see a level playing field to prevent these rogues from moving from one country to another where the legislation and regulation are lax to enable them to do damage to the innocent.

For the moment, the silly Asian Asses still have greed covering their eyes and could not see the harm and damage that these rogues could create to their financial systems even when billions have been extracted and robbed from their local investors. When would it end, when would deregulation be stopped and more regulations be introduced to protect the integrity of the financial systems across the world?
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redbean



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PostPosted: Tue Feb 22, 2011 3:06 pm    Post subject: Reply with quote

Is SGX desperate enough?

The CEO of Tokyo Stock Exchange has warned that SGX should not go further to sweeten the already generous offer to merge with ASX. Doing so would further dilute the shares of existing shareholders.

The question is whether SGX is desperate enough to want to show that it is a maverick and working hard to do something, anything will do, to be seen to be in action, innovative and creative. If that is the case, and if the Aussies are smart enough to know how desperate SGX is, they should keep on playing the game of hard to get.

They may succeed and be paid handsomely and still own ASX with SGX as a subsidiary...that is if SGX is desperate enough. Would SGX pay the Aussies to become a subsidiary of ASX? Don't rule out the possibility, some say. Anything is possible, when one party is desperate enough.
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redbean



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PostPosted: Wed Mar 16, 2011 3:21 pm    Post subject: Reply with quote

Trading madness or irresponsibility?

Matthew Lynn, a Bloomberg News columnist, wrote an article in the Today paper about high speed trading to the fine tune of picoseconds, just to take advantage of the next guy who does not have technology as an aid. Now what is a picosecond? This is Matthew’s definition, ‘a picosecond is one trillionth of a second, or …a picosecond is to one second what one second is to 31,700 years.’ This is the direction the stock market trading is heading to.

Hey, wait a minute, what is a stock market, a jackpot machine, a casino or a game of chance? ‘A stock market has two core functions. It exists for companies to raise capital needed to invest in their business. And it should help ordinary people to make a decent return on their savings by investing in those enterprises.’ I quote Matthew. And this is nothing new.

Why are the regulators allowing themselves to be led by the nose by the big funds to change the nature of stock trading from investment to one of pure gambling, by odds and speed? Mathew added that ‘at a certain point, you have to step back and ask whether this is a road we really want to go down, and whether it performs any useful function.’ He concluded by saying that ‘The stock exchanges should call a halt – and tell the traders that if they only want to hold their investments for a picoseconds, they might be better off going somewhere else. Like a racetrack.’

I would like to add that it is highly irresponsible for stock exchanges to allow this to happen as it not only gives the hedge fund an unfair advantage over other traders, which is a fundamental principle it must uphold, such trading methodology will eventually lead to the destruction of the stock market itself. High speed trading and many other variable methodologies are undermining all the cardinal principles of stock markets, eg churning, creating a false market, uneven playing field, buying and selling without change of ownership etc etc.

The rot has started and its natural ending is the demise of the stockbroking industry if this deceptive trend is not stopped.
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PostPosted: Fri Mar 25, 2011 9:41 am    Post subject: Reply with quote

Another S Chip in trouble

China Gaoxian has been halted and under investigation on its accounting. Would anyone be found responsible if there irregularities are found? Would any independent director take the rap? What about the auditors or the finance director or the top management?

As we see one by one going into the gutters, shouldn't someone look at the big picture and say this shit is too risky and not worth risking. The companies are overseas and do not come under our direct supervision. It is so easy for the management to take the money after listing and then let the company wind down. They could even sell off the properties and business or set up another one by transferring everything to the new company and call it a day.

There is really nothing that we can do. Should such a risky operation be continued? Why is there a need to keep throwing good money after risky propositions? Who is ultimately responsible for such fiasco?
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redbean



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PostPosted: Sun Apr 03, 2011 8:36 am    Post subject: Reply with quote

Who is calling the shot in the stock market industry?

SGX is still fighting tooth and nail to get married to ASX. It has offered the highest dowry it could pay and may even have to go on its knees to ask for the hands of the bride. According to some financial analyst, this marriage is like a life and death situation. Without the copulation, there would not be any future down the road. Both parties, on its own, without being hooked together, will be left on the lurch.

The stock market industry has changed. The big funds are now calling the shot and dictating how the stock markets should operate. Big funds will eat into the market share of officially corporatized stock markets around the world by playing foul. No, not really. They just hook their super computers into the stock market system to take advantage of their high speed and technology to clean up the small players, with approval from the stock exchanges. This is now legal. Stock markets now do not have to ensure a level playing field. For if they do so, the big funds will not want to play ball with them. They are now held at ransom by the big funds and have to take orders from the big funds. And the big funds simply say, I want to take advantage of the system with my technology. To hell with the small traders. It is us or them.

The next great fear is Dark Pools. The Dark Pool operators make transactions in the dark, unknown to the rest of the investors. They could also trade outside the stock market system. The need for transparency to ensure that all traders are privy to the same information, and level playing field, no longer apply to the Dark Pool operators. As long as the stock exchanges know, or the Dark Pools informed the stock exchanges, that is good enough. The rest of the traders need not know who buys what and in what volume.

The same reasons go. The Dark Pools are going to eat up the market shares of existing legal stock exchanges and the stock exchanges cannot do anything about it. The stock exchanges must compete under the same rules and operating styles of the big funds and Dark Pool operators, or else they will go the way of the Dodo bird. The govt controlled stock exchanges around the world are threatened by the big funds and their big machines and the Dark Pools.

You have to believe this logic. It is the new testament, the new commandments. The rogues are telling the govt constituted stock exchanges how the game should be played, under their terms and conditions!

In the name of fair play, transparency, level playing field, could not the govt make such unfair practices illegal? Why are the govts across the world not stopping such nonsense from going on? The big funds and Dark Pools are cheating and robbing the investors with unfair advantages and practices.

Is there such thing as right or wrong today? Is there such thing as legal or illegal? When the rogues and gangsters run the show, where will it lead to?
You may wonder why the big funds and Dark Pool operators did not go to the casino to do the same thing. The answer is obvious. The losers will be the casino operators. In the case of stock exchanges, the losers will not be the exchange but the disadvantaged investors.
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redbean



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PostPosted: Fri Aug 12, 2011 10:11 am    Post subject: Reply with quote

Below is part of an article by George Friedman

Global Economic Downturn: A Crisis of Political Economy
By George Friedman
Classical political economists like Adam Smith or David Ricardo never used the term “economy” by itself. They always used the term “political economy.” For classical economists, it was impossible to understand politics without economics or economics without politics. The two fields are certainly different but they are also intimately linked. The use of the term “economy” by itself did not begin until the late 19th century. Smith understood that while an efficient market would emerge from individual choices, those choices were framed by the political system in which they were made, just as the political system was shaped by economic realities. For classical economists, the political and economic systems were intertwined, each dependent on the other for its existence.
The current economic crisis is best understood as a crisis of political economy. Moreover, it has to be understood as a global crisis enveloping the United States, Europe and China that has different details but one overriding theme: the relationship between the political order and economic life. On a global scale, or at least for most of the world’s major economies, there is a crisis of political economy. Let’s consider how it evolved.
Origin of the Crisis
As we all know, the origin of the current financial crisis was the subprime mortage meltdown in the United States. To be more precise, it originated in a financial system generating paper assets whose value depended on the price of housing. It assumed that the price of homes would always rise and, at the very least, if the price fluctuated the value of the paper could still be determined. Neither proved to be true. The price of housing declined and, worse, the value of the paper assets became indeterminate. This placed the entire American financial system in a state of gridlock and the crisis spilled over into Europe, where many financial institutions had purchased the paper as well.
From the standpoint of economics, this was essentially a financial crisis: who made or lost money and how much. From the standpoint of political economy it raised a different question: the legitimacy of the financial elite. Think of a national system as a series of subsystems — political, economic, military and so on. Then think of the economic system as being divisible into subsystems — various corporate verticals with their own elites, with one of the verticals being the financial system. Obviously, this oversimplifies the situation, but I’m doing that to make a point. One of the systems, the financial system, failed, and this failure was due to decisions made by the financial elite. This created a massive political problem centered not so much on confidence in any particular financial instrument but on the competence and honesty of the financial elite itself. A sense emerged that the financial elite was either stupid or dishonest or both. The idea was that the financial elite had violated all principles of fiduciary, social and moral responsibility in seeking its own personal gain at the expense of society as a whole.
Fair or not, this perception created a massive political crisis. This was the true systemic crisis, compared to which the crisis of the financial institutions was trivial. The question was whether the political system was capable not merely of fixing the crisis but also of holding the perpetrators responsible. Alternatively, if the financial crisis did not involve criminality, how could the political system not have created laws to render such actions criminal? Was the political elite in collusion with the financial elite?
There was a crisis of confidence in the financial system and a crisis of confidence in the political system. The U.S. government’s actions in September 2008 were designed first to deal with the failures of the financial system. Many expected this would be followed by dealing with the failures of the financial elite, but this is perceived not to have happened. Indeed, the perception is that having spent large sums of money to stabilize the financial system, the political elite allowed the financial elite to manage the system to its benefit.
This generated the second crisis — the crisis of the political elite. The Tea Party movement emerged in part as critics of the political elite, focusing on the measures taken to stabilize the system and arguing that it had created a new financial crisis, this time in excessive sovereign debt. The Tea Party’s perception was extreme, but the idea was that the political elite had solved the financial problem both by generating massive debt and by accumulating excessive state power. Its argument was that the political elite used the financial crisis to dramatically increase the power of the state (health care reform was the poster child for this) while mismanaging the financial system through excessive sovereign debt....
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redbean



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PostPosted: Mon Aug 15, 2011 9:58 am    Post subject: Reply with quote

Financial crisis hitting stock markets

MAS is getting more clouts to deal with errant pushers of toxic products. This sounds like a good thing. What MAS needs to do is to be more proactive and look at the whole financial system as well, especially how stock markets are run around the world, and how dangerous products and systems are allowed to get into the stock market system to run riots and exploited the weaknesses of the system to prey on the small investors.

The exploding financial crisis in the US and Europe is affecting not only toxic products but also the stock market mechanism and processes. The plunge in Dow and Europe market had caused panic and the immediate response by the European govts is to curtail short selling. The damage that short selling could cause, and how this mechanism can be easily abused need no further explanation.

Short selling and many other new devices and systems have been introduced into the stock markets world wide, including high speed trading, derivatives, dark pools, programme tradings, etc that violate the principles of stock trading. The very basis for funds to employ these new gadgetry and systems works against how a stock market should behave. In the long run they will devour everything and lead to a loss of confidence in stock trading and even the destruction of this industry.

They also violated the sacred principles of level playing field and transparency. If stock markets allowed such principles to be transgressed with impunity and explaining them to be part and parcel of modern stock trading, there is a very high possibility that the stock markets would go the way of toxic notes and bonds. They could inflict more severe damages and consequences than just toxic products. The industry could collapse and many people, other than losing their investments, could also lose their jobs.

Eventually the blame will fall back to authority/regulators for allowing all the infringements of good market practices, principles and rules and regulations to be breached and not doing anything to prevent them. When it became another crisis like the minibonds, it will be disastrous and the authority cannot run away from this responsibility by claiming investors went in with eyes wide open. The authority has the responsibility to provide a fair system and level playing field. That is the basic principle and also the rationale for the existence of a regulatory body. The people trust that the stock market are there to provide a level playing field and MAS is there to see to it. Caveat emptor is not acceptable when a system is allowed to operate with unfair advantages to the big funds.

If ever the stock market collapses, someone will have to answer for it. The key questions will be whether there is a level playing field and whether the new trading platform provided the funds with an unfair advantage over the small investors.
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redbean



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PostPosted: Thu Aug 25, 2011 10:36 am    Post subject: Reply with quote

What is happening in the stock market?

Hundreds of millions have been lost in the stock market by small investors since programme trading, algo and high computers were attached to the system of the stock market. This development means that the big funds are able to take full advantage of technology by plugging their computers into a system that they were once forbidden to do so, and trade against small investors, and cleaning them up.

Nobody is crying foul, or nobody dares to, or nobody wants to. So everyone pretends like there is nothing wrong, just like the toxic notes and Lehman bond crisis. The money lost in the stock market is many multiples of the previous scam and the number of victims were much more numerous.

One day it is going to explode and as usual, everyone will pretend to be ignorant of it. Everyone will say I dunno. Is there anything wrong with the stock market trading system? Is there a level playing field? Are there any violations to the rules and regulations of stock trading?

I swear to god that there is nothing wrong. I think the system is perfect, and volume is increasing and the stock exchange is making a lot more money than before. Those losers just got to blame themselves. I am sure the SGX and MAS know exactly what they are doing and everything is just fine. We can trust the super talents to do their homework as they are paid very well to do their jobs.

Some people have been complaining to me that something is really foul with the system. I disagree completely. But if they do feel strongly that something is wrong they need to prove it. Or they may want to take advantage of the presidential election and bring their grouses to the presidential hopefuls. These are honourable men who have pledged to safeguard the nation’s reserves with integrity. And if the small investors think that are caught in a scam, and brought to their attention, they will definitely take up their case to protect the small investors. They are men of honour and their positions with regards to the banning of MP Chen Show Mao in Aljunied are testimonies to their principles for fair play and justice.

Bring the problems to them and let them raise the issues with the proper authority. For me, I don’t see anything wrong so I would not know what to say. The SRS, SIAS, the broking houses, too are interested parties and they too did not see anything wrong and are not complaining.

Those people who complain about unfair practices, uneven playing field, unfair advantages, may not have a case, I think. If they think they cannot beat the system, don’t get it. It is caveat emptor.
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PostPosted: Thu Sep 22, 2011 8:22 am    Post subject: Reply with quote

The horse is sick

It was a strong and healthy horse. The owner saw the great potential in this animal. He had great plans for the horse to run in all the great derbies across the world, Singapore, Hongkong, Dubai, American, Australian, English etc, to be a champion among the best of race horses.

The best international trainer and manager were hired to groom this horse. World class vets, dieticians, the best diet, drugs and stimulants were injected into the horse. A well planned training regime and the best computer programmes to monitor its progress. The best and finest of everything money can buy were bought for the horse.

For a while things looked promising. The horse was lean and trim, looking more like a race horse. The bets were good and winnings started to roll in. International syndicates were brought in to raise the bets. Big dreams and big time gambling and big egos were fanned.

Then everything started to go wrong. And the horse fell sick, very ill. The punters lost everything and lost interests as well as their capital. The international syndicates also started to lose interests as the winnings got smaller. Their investments were big and they expected big returns. But with all the punters packing their bags after losing everything they had, there was nothing left for the pickings.

What went wrong? Actually it was too obvious. Everyone knew what went wrong except the owner. Even the international manager and trainer knew what was wrong from the start. But they were paid well and tried their best, but not telling the owner. Or maybe they too believed that they could do wonders to the horse.

It was never a thoroughbred to start with. It was a strong and sturdy work horse, a farm horse. It would work hard in the farm and be very productive in its own way and at its own pace. It could never race with the best in the world. It could not take the drugs and the regimes of a race horse.

The name of the horse is SGX.

In the last few sessions, the trading volume has dropped to a level never seen before. It was scary. The investors are fleeing or have gone hiding. They could not win in a system that favours the big players and their machines. Small innocent men are no match against machines. They lost and lost and lost. So were the remisiers trying to trade against the high speed computers.

The next victim would be the brokerage. Their overheads are high. Management, staff, rentals, hardwares, all cost money. The miserable trading volumes would not be able to support their overheads. Retrenchment and downsizing are imminent.

The big players and the machines will find it no longer lucrative to be in the market when there is a dearth of investors. They can’t justify their presence without the comparable income and winnings from the market. They will quit for greener pastures.

The listed companies will find it meaningless to see their shares become penny stocks, practically worthless and unable to raise funds from the market. There is no point paying the listing fee to be in a cheap stock market. It is a matter of time before they start to delist from the exchange as well.

New IPOs will have problems finding takers. The valuation will be low and not worth listing. Even if they are successful in listing, the shares would soon become penny stocks.

The other big losers will be the two great sovereign funds. The values in their blue chip holdings too will go dwindle like any other stocks.

Can the sick horse be nursed back to health? The toll for indiscretion and megalomanic dreams are high. The infrastructure and supporting base of small investors are badly hurt and near to ruins. The industry is at a point of self destruct.

Whither the SGX? Or who is killing this workhorse?
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PostPosted: Tue Oct 04, 2011 2:57 pm    Post subject: Reply with quote

High-Frequency Traders May Face Tougher EU Market-Abuse Rules
2011-09-13 10:48:26.582 GMT


By Jim Brunsden
Sept. 13 (Bloomberg) -- The European Union is considering
listing “specific examples of strategies using algorithmic
trading and high-frequency trading” that should be banned and
punished by regulators as market manipulation.
The measures to increase investor protection and reduce
volatility are part of plans to clamp down on market abuse in
the European Union, according to a draft of the proposals
obtained by Bloomberg News.
“There are particular automated strategies that have been
identified by regulators which, if carried out, are likely to
constitute market abuse,” the document says. “Further
identifying abusive strategies will ensure a consistent approach
in monitoring and enforcement by competent authorities.”
High-frequency traders have come under increased
regulatory scrutiny following the so-called flash crash in May
last year, during which the Dow Jones Industrial Average briefly
lost almost 1,000 points.
Michel Barnier, the EU’s financial services chief, has said
the tougher market-abuse rules are needed because current
sanctions are too weak.
Under the proposals, regulators would get the power to set
maximum fines for financial services companies of at least 10
percent of their annual sales. Individual traders would face
fines of at least 5 million euros ($6.8 million) for the worst
infractions.
Traders found guilty of “intentionally” engaging in
insider dealing and market manipulation should face criminal
sanctions that are, “effective proportionate and dissuasive,”
according to the draft rules.
Under the plans, which would need approval from governments
and members of the European Parliament, unsuccessful attempts to
manipulate markets should also be punished.

The above is a Bloomberg article.

Europe is talking about hefty fines and criminal charges to traders abusing the system through the use of high frequency trading. The criminal aspect of this methodology is clear but have been ignored by the regulators in the US where it originated. The unwillingness of Congress/Senate to pass laws to rein in the destructiveness of high frequency trading is criminal, and understandable given the incestuous relationship between the law makers and the banksters.

Europe is slightly away and could be relied upon, relatively, to take actions against the rogue part of high frequency trading. Regulators who slept with the devil will dance with the devil and protect the devil. Hoping that the Americans will take action earlier is not going to happen and Europe may be the saviour to this menace.
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what i posted is just my personal view. feel free to disagree.
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