Are Merchant Banks Trading Using Stock Exchange Secrets?
Do Wall Street ‘types’ have access to stock exchange secrets? This is a great place to start looking for the inside track. Unfortunately, most (or all) of this real inside knowledge is illegal to use. There are a few court cases every year which involve insider dealing from a source who should know better. This might be a journalist with access, a money manager or analyst of some sort. The usual image of this comes from the film Wall Street in which Michael Douglas won an Oscar. His character was Gordon Gecko, a super wealthy, ruthless and very powerful fund manager who uses Bud Fox (played by Charlie Sheen) to gather competitive intelligence on a company he was interested in. This intelligence involved following a company chairman, posing as an office cleaner and copying sensitive documents. In other words, he was stealing his stock exchange secrets! Gecko then traded on the information through offshore sources to hide his involvement. Whilst this may happen (who knows?), a more likel
Related Questions
- Follow the link for more information on MiFID and trading on and off Exchange. Why should I choose the London Stock Exchange as my best execution venue?
- Does a merchant have to change banks, bank account or equipment type in order to change over to RMS Merchant Services program?
- How is trading within a stock exchange is done?
