Comment by altmind | Hacker News Reader

Comment by altmind | Hacker News Reader

Even if there is a foul play of trading on unannounced news, this should not be called "market manipulation". That may be informed trading, that is not illegal. And there is no evidence that this was done by all the same actor.

--- > Trump, ... boasted during the G7 summit that his counterparts in Beijing had come back to the table. Indeed, this single Trump lie briefly inflated domestic markets by hundreds of billions of dollars. “What this describes is, quite literally, market manipulation that constitutes criminal violations ...” commented George Conway, the conservative attorney and Trump critic.

This is just plain bad reporting. Yes, they questioned the expert, and the expert given them politically loaded opinion. For it to be market manipulations, Trump(himself, as mentioned in the article) need to profit from the action, at least.

It depends on context: what's the info, who does it relate to and who's trading. There is a category of info called material non public information that is illegal to trade.

It's not illegal to trade per se, only in breach of a duty of trust or confidence to the source of the information.

Depends on the country and relationships involved. In the United States, employee’s making trades based on based on insider information is illegal. Similarly front running in the US is illegal: https://en.m.wikipedia.org/wiki/Front_running

Right. But it matters that they are employees, not just that the information is material and nonpublic.

>There is a category of info called material non public information that is illegal to trade.

This is absolutely not true.

Depends on the jurisdiction? In Australia, I believe it is illegal.

This article is about the Chicago Mercantile Exchange.

The SEC does not agree with you

https://www.sec.gov/fast-answers/answersinsiderhtm.html

>in breach of a fiduciary duty or other relationship of trust and confidence

You can trade all you want on material non-public information if you're not an insider (or got your info from one under certain circumstances).

Like Martha?

https://www.thoughtco.com/martha-stewarts-insider-trading-ca...

> For it to be market manipulations, Trump(himself, as mentioned in the article) need to profit from the action, at least

Maybe he's just a useful idiot for the real manipulator. Would Trump pick up the phone from a donor who is able to carry out these trades, and be convinced to utter something positive about trade?

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