Ugliest thing I've seen all day
A relatively recent change in policy at Tradesports has made it impossible for US traders to trade nearly all of the financial contracts. No economic numbers, no oil, no gold. The effect on the market is exactly what you would expect.
This screenshot (Photoshopped for size but otherwise unchanged) says it all. No liquidity anywhere. No offers, no buys, no sells, basically no point. This is utterly useless for any of the promised benefits of an idea futures marketplace. Ohh, but you can still bet on Dow up or down every day.
This moves Tradesports even closer to be a marketplace for gimmicky trades (American Idol, Academy Awards) and sports gambling and further away from a serious financial marketplace, the direction Hedgestreet has taken
Labels: TradeSports
3 Comments:
What policy change?
I had assumed these had been off-limits to US traders for a while. The CFTC slapped their hand back in October, I think. How recently did you actually trade these?
If you were able to trade these in the past month or so, it's very funny that there was no public announcement. I won't speculate on what that would mean until you confirm what you were able to trade and when.. but that would be intriguing from a regulatory standpoint. Thanks
Tried to trade the oil contracts less than a month ago and was unable to. I haven't tried to trade the econ numbers since before January (summary doesn't go back further).
When I was blocked on the oil contracts I contacted trade sports and they said that the oil, gold and interest rate contracts were off limits. I didn't discover until I tried to play the econ numbers this week they were off limits. Not sure when that started but I've been with themfor a while an rec'd no notice of it.
-Nbat
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