Israel investigates possible trading knowledge ahead of Hamas attack

Middle East News
2023-12-04 | 10:24
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Israel investigates possible trading knowledge ahead of Hamas attack
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Israel investigates possible trading knowledge ahead of Hamas attack

Israeli authorities are investigating claims by American researchers that some investors may have had advance knowledge of Hamas's intention to attack Israel on October 7.

According to the allegations, investors used that information to profit from Israeli securities.

Research work by law professors Robert Jackson Jr. of New York University and Joshua Mitts of Columbia University found major short-selling of stocks before the attacks that sparked a war that has been going on for nearly two months.

“Days before the attack, traders appeared to be anticipating the coming events,” they wrote, noting the lack of interest in the MSCI-listed Israeli ETF, which “suddenly and significantly rose” in October 2, based on data from the Financial Industry Regulatory Authority (FINRA).

“Immediately before the attack, short selling of Israeli securities on the Tel Aviv Stock Exchange increased significantly,” they added in their 66-paper report.

The stock exchange referred Reuters' question about this matter to the Israeli Securities Authority, which responded by saying, "The matter is known to the authority and is subject to investigation by all parties concerned."

A spokeswoman for the authority did not provide any details, and the Israeli police have not commented yet.

Reuters

Middle East News

Israel

Investigation

Trading

Hamas

Attack

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