Last week the Wall Street Journal reported: WASHINGTON—Federal law-enforcement authorities have reversed course and revived an insider-trading probe into how media companies transmit government data to investors, according to people familiar with the matter. The decision came after the Wall Street Journal in January disclosed the probe and reported that the Federal Bureau of Investigation [...]
NTKN (Need to Know News)
I listened to the whole thing and a number of things struck me: Boy, has Carl Fillichio changed his tune since his April 16th conference call with reporters, when he stonewalled and refused to answer reasonable questions. (The transcript to that call is here, but to fully appreciate the extent of his obnoxiousness, listen to the audio.) [...]
These are the ones that I know about, but there are more: JED Capital of Chicago used to be tied to Need to Know News (NTKN) Vigilant Global (formerly Vigilant Futures) of Montreal started the fake news agency CEP News to gain access to lock-ups. CEP News was subsequently folded, but its marketing director, Paula [...]
Here are the news organizations that have been officially credentialed for Department of Labor lock-ups, effective July 6, 2012: Agence France-Presse Associated Press Bloomberg News Bloomberg Television CNBC CNN Dow Jones Newswires Fox Business Network Jiji Press Kyodo News Market News International MarketWatch The Nikkei Thomson Reuters Tribune Company This is the old Department of [...]
This post is delayed. Please check back later. Update 10:30 April 17: The promised audio of Monday’s call, which was supposed to be posted to the DOL website yesterday, is still not available. The DOL linked it earlier, but the recording turned out to be muzak and now it’s disappeared. Honestly, if they can’t upload [...]
This means no more juicy details will be forthcoming. That’s probably why they settled. Terminate Hearings
This is an interesting story on Jump Trading, which has a long-standing interest in my website. Jump’s co-founder Paul Gurinas is also named in the Shirley vs. Jed Capital and Harada court case. As a previous business partner of John Harada, he may very well have insights into NTKN’s operations and the advantages it provided [...]
This case promises to offer interesting insights on the relationship between fake news agencies and proprietary trading firms, but, wow!, has it ever been taking a long time to get the information out. So, given that justice seems to be delayed, but here are some court documents to tide you all over until next month’s [...]
Here’s a link to documents from 2008, released under the Freedom of Information act, showing Bloomberg News staff requesting information about NTKN. Bloomberg editors, whose names were given to me by other sources, have never returned my calls and emails about the NTKN/CEP situation. This document doesn’t reveal much other than the fact that government [...]
This information about Deutsche Börse making use of NTKN technology to provide “the fastest economic data for algo traders”prompted an email exchange with an interested reader. At least for me it is now clear that NTKN, CEP News etc are/were mainly in service for algorithmic traders. I am not convinced that their motive was to [...]
