- Yes: This is classic spoofing.
- Yes: This is “flipping,” a form of spoofing.
- Yes: This is “layering” and perhaps “momentum ignition,” a form of spoofing.
- No: Icebergs, while misleading, are expressly permitted.
- DK: Your guess is as good as mine.
- No: Fill or Kill and Fill and Kill are permitted even though they may appear to the market the same as a “flashed” spoof order.
- No: If it is Exchange sanctioned it is probably not spoofing.
- No: Since it wasn’t your intent to cancel when you entered the orders it is probably not spoofing but try and convince a jury of that.
- Yes: Because it was your intent to cancel your bids once you made your sale.
- Yes: The CME mentions this type of activity in their explanation of Rule 575.
1 wrong: Great job but close only counts in horseshoes and nuclear weapons, not HFT compliance and not post-Dodd-Frank
2 wrong: Don’t spend profits too quickly; orange is the new black
3+ wrong: Stop trading unless you work for a major investment bank