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CME Group admits its exchanges have been allowing manipulative trading practices
8:47p ET Monday, September 8, 2014
Dear Friend of GATA and Gold:
Zero Hedge reports tonight that CME Group, operator of futures exchanges, including the Comex in New York, that give discounts to central banks and governments for surreptitious trading whose purpose can be only to manipulate markets, has told the U.S. Commodity Futures Trading Commission that effective September 15 it will ban "spoof trades," "quote stuffing," and "disorderly execution of transactions during the closing period" -- which is to say, as Zero Hedge notes, that this sort of market manipulation has been going on a long time:
http://www.zerohedge.com/news/2014-09-08/these-kinds-market-rigging-prac...
The CME Group letter to the CFTC is posted at GATA's Internet site here:
http://www.gata.org/files/CMEGroupManipulativePractices-08-28-2014.pdf
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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