So the whole staff new about this move, from which it is to be expected to move the market when published?
Charitably put, that's naive.
So the whole staff new about this move, from which it is to be expected to move the market when published?
Charitably put, that's naive.
That response has since been deleted. I was just talking to my friend about this. Here is the snapshot: https://imgur.com/a/cLlp7
An email to everyone, a press release, a blog post stating this new feature will be available to everyone in x days at time T. That would be fair game.
It would only then be fair game if that email goes out at the same time as when the information is publicly available.
I'm not talking about a new iPhone here. But information, which moves the market. For example: A planned merger to which very few people are really privy.
I've worked in several investment firms and banks, and in all cases I had to use a special employee trading account, often at higher cost btw. What happens on such systems are brownouts / blackouts of transactions for certain stocks. It happened to me more than once in the past that, even if I already have a position, I was barred from even selling the security since it was on one of the several lists that they keep. Some of these lists are private, and they won't tell you when it's coming off the list. That's probably part of the protection against insider knowledge, too.
Like another commenter said, these coin outlets have a lot more to re-live in terms of wheels that have been invented long ago. Someone talked about currency itself, and Roman experiments, but similar lessons will need to be learned with regards to insider trading, exchanges, securities markets and so forth.