“It is not illegal to be smarter than your counterparties in a swap transaction." That's what a New York federal judge wrote while ruling in favor of DRW in a case brought against the big Chicago trading firm and its owner, Don Wilson, by the CFTC.
“It is not illegal to be smarter than your counterparties in a swap transaction, nor is it improper to understand a financial product better than the people who invented that product,”
Judge in savage ruling against CFTC in futures market manipulation case. https://t.co/NjaKqOapZ4