>I am surprised Wall Street doesn’t do this already to create synthetic longs.
A comment on the post covers that: It's called a "bucket shop", and it's illegal.
A comment on the post covers that: It's called a "bucket shop", and it's illegal.
https://en.wikipedia.org/wiki/Bucket_shop_(stock_market)
The Wikipedia description of a bucket shop says that it's gambling market on stock prices. The anti-stock idea in the article is a security where the holder is obligated to pay out the same dividends as the underlying stock. Not the same thing, AFAICT.
Well, this is an awkward moment to be in a car with a connected friend from Adelaide!
[1] - https://www.investopedia.com/terms/c/cashsettlement.asp