But aren't they charging comission for each trade? What would a trader gain by losing money?
If the exchanges are doing this, it is quite easy to see it then, since they trades are not in the order book. Maybe SEC will be able to regulate the exchanges that are in the US.
SEC won't do such a thing to those clowny exchanges.
They will do something if those exchanges exceed $1 million in term of volume or a poppular exchange.
I ever seen something worse than that actually in 9coin.com,you will see them doing the 'trade' without a real order.
Usually they did that to get an attention from people or pushing the price up.But sometimes it might be happened due to our connection issue,so make sure you did not get an issue with your connection before.