A rise in late confirmations accompanied the spike in trading last summer , suggesting that the plumbing still lacks scalability ( see chart ) .
上个夏季交易的峰值伴随着确认滞后的增加,暗示着交易流程仍然缺乏可测量性(如图)。
Although some details remain unclear , the trader was able to make it look like he conducted the etf trades without setting off alarms because some trades don 't require trade confirmations .
The specifics of any proposed changes to the rules , such as whether confirmations would be required in the case of the ubs trader 's alleged unauthorized etf trades , still are unclear , she said .
" Given the absence of official confirmations , the market is attributing today 's heightened trading activity to those who wanted a quick flip , " said one veteran hong kong-based banker .
The electronic purchase confirmations from those sites were then sent , using the woman 's e-mail account , to her entire list of contacts " in order to embarrass " her and her husband .
These sources claim that mr adoboli took advantage of a loophole in securities law by using exchange-traded funds ( etfs ) to book these fake transactions , since etf rules do not force brokers immediately to produce confirmations of trades .
When deloitte attempted a second formal round of confirmations as a result , longtop officials interfered by seizing deloitte working papers and telling the banks that deloitte wasn 't really its auditor , the firm said in its resignation letter .
A pcaob representative said , however , that the board 's existing rule is ' sufficiently robust ' to require auditors to do confirmations appropriately in china , and the pace of the changes doesn 't need to be accelerated because of the recent problems .