News for hackers. Stuff that matters.
Re:How the Flash Crash Trader’s $50M Fortune Vanished by jondubois on Friday February 10, 2017 @03:42PM (#13618709)
I don't think the intention matters if the result is the same.
Re:How the Flash Crash Trader’s $50M Fortune Vanished by kolbe on Friday February 10, 2017 @05:53PM (#13619631)
Well, the law doesn't really say anything beyond "manipulative devices" and "contrivances," but right now, judges have kinda ruled that intention matters. But we don't know much, because most of these cases get settled out of court, so we don't have a robust case law to base any of this off of. Basically, if you participate in a financial transaction in any way, be prepared to be accused of a crime.
Re:How the Flash Crash Trader’s $50M Fortune Vanished by hermitdev on Friday February 10, 2017 @10:30PM (#13620809)
Intention mostly matters, sometimes doesn't. Sometimes the left arm doesn't talk to the right arm and conflicting orders go out. Technically this could be construed as spoofing, but sometimes it's business unit A not talking to business unit B, because A isn't in the same location as B, or there's a Chinese Firewall between A & B. It might not be intentional spoofing, but it can happen, anyway.
Re:How the Flash Crash Trader’s $50M Fortune Vanished by lsadam0 on Friday February 10, 2017 @07:22PM (#13620130)
The law strongly disagrees, and for good reason. See: manslaughter vs murder.
Re:How the Flash Crash Trader’s $50M Fortune Vanished by gpderetta on Friday February 10, 2017 @05:47PM (#13619590)
it matters because the law says it matters.