AGAIN
Cyclical pattern, usually finishes cycle wit Citi.
HFT nekkid shorting. Then going home flat.
In part, but TBTFs really just don't want anyone looking behind the curtain as to what all they're up to. Like setting up and clearing the accounts tied to the likes of The Panama Papers, where the REAL money laundering goes on.
No way to know all the private derivatives on the books at the TBTFs. Dey do this chit all the time, CDSs and the like. Also use them to declare as "Tier 1 Capital" keeping the doors open. Privates derivs also go around exchange set position limits, which was what tripped up the Hunt Brothers, oh so many yrs ago.
Leverage coming out of da system. Shitcoin least regulated for margin of anything. Like paying with Doge. Carry trade of last 30 years resuming its unwind.
Yes, and why it's called "Position Limit". Bailing out banks repeatedly begets larger and larger risks taken on by fewer and fewer stupid bankerpeople believing "It's different this time!".
Someone has to play the Howard Hughes role in any generation.
Here's the problem. Now corporate Exchanges are "Self-Regulating" bodies. They gonna report themselves to the CFTC?
Not. Habbening.
And Gensler's at SEC now, no longer at CFTC. CFTC chair is Behnam:
https://www.cftc.gov/about/commissioners/index.htm