[lsaferite]

Exactly what definition of fraud are you using?

"In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right."

Not sharing information is not deception.

FWIW, I'm in no way in the financial markets and have no personal stake in this conversation other that a dislike for incorrect assertions.

Your premise that it's fraud if I don't tell you every iota of information I have as it relates to some trade is, as a non-lawyer, very wrong. I'm unsure of what moral right you expect you have that would even make that assertion correct.