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Oil traders are watching workers’ phones to spot problems at refineries

bloomberg.com

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Re: Oil traders are watching workers’ phones to spot problems at refineries

#141

Post by Chris2048 »

zaphirplane wrote: post #140
Chris2048 wrote: post #137

Earlier quoted context omitted.

But muder is illegal. Tap-dance dostraction might not be.

Rhetorically, What is the intent here ? The intent was explained as to distract to extract an advantage. The story was told with us knowing both sides view. I have no idea who you think you are fooling. As a community service in case you’ve convinced yourself, have a read of https://en.m.wikipedia.org/wiki/Fraud “ In law, fraud is deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a leg…

Where is the "legal right"? Distracting someone for gain isnt illegal.

Also, I dont appreciate the tone of your post, eg "as a community service"

Re: Oil traders are watching workers’ phones to spot problems at refineries

#142

Post by zaphirplane »

Chris2048 wrote: post #141
zaphirplane wrote: post #140

Earlier quoted context omitted.

Rhetorically, What is the intent here ? The intent was explained as to distract to extract an advantage. The story was told with us knowing both sides view. I have no idea who you think you are fooling. As a community service in case you’ve convinced yourself, have a read of https://en.m.wikipedia.org/wiki/Fraud “ In law, fraud is deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a leg…

Where is the "legal right"? Distracting someone for gain isnt illegal. Also, I dont appreciate the tone of your post, eg "as a community service"

Any particular reason you are focusing on the irrelevant “or” and ignoring the relevant one?

“fraud is deliberate deception to secure unfair or unlawful gain”

That means either unfair gain or unlawful gain. Not only unlawful gain

Re: Oil traders are watching workers’ phones to spot problems at refineries

#143

Post by Chris2048 »

zaphirplane wrote: post #142
Chris2048 wrote: post #141

Earlier quoted context omitted.

Where is the "legal right"? Distracting someone for gain isnt illegal. Also, I dont appreciate the tone of your post, eg "as a community service"

Any particular reason you are focusing on the irrelevant “or” and ignoring the relevant one? “fraud is deliberate deception to secure unfair or unlawful gain” That means either unfair gain or unlawful gain. Not only unlawful gain

Because unfair lawful gain isnt illegal. So if its not illegal, there is no standard of fairness.

Re: Oil traders are watching workers’ phones to spot problems at refineries

#144

Post by zaphirplane »

Chris2048 wrote: post #143
zaphirplane wrote: post #142

Earlier quoted context omitted.

Any particular reason you are focusing on the irrelevant “or” and ignoring the relevant one? “fraud is deliberate deception to secure unfair or unlawful gain” That means either unfair gain or unlawful gain. Not only unlawful gain

Because unfair lawful gain isnt illegal. So if its not illegal, there is no standard of fairness.

We are discussing fraud. And if profiting from tricking someone is fraud or not.

Re: Oil traders are watching workers’ phones to spot problems at refineries

#145

Post by gamblor956 »

doovd wrote: post #138
Chris2048 wrote: post #129

Earlier quoted context omitted.

No it isn't, spoofing is feigning trading behaviour. Providing data that another company illegitimately bases their trades on isn't trading.

Yes it is. Placing orders you don't intend to be executed is spoofing. From the OP: "faked a bunch of activity"

Sorry, should have been more specific. As I understand it, no trades were made--they just spoofed whatever activity their competitor was looking at, so it wasn't illegal (but then again, I was hearing the story second-hand).
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