Spoofing

U.S. Commodity Futures Trading Commission today issued an order filing and settling charges against Tower Research Capital LLC, a proprietary trading firm, arising from a manipulative and deceptive scheme, spanning nearly two years and involving thousands of occasions of spoofing in equity index futures.

The Commodity Futures Trading Commission (CFTC) today announces that Deutsche Bank, UBS and HSBC, will collectively pay over $47 million in civil settlement for engaging in spoofing in the precious

A Chicago trader and his firm have agreed to pay $2.5 million to resolve a lawsuit by the U.S.

Bats Global Markets (Bats) received Securities and Exchange Commission approval of the Bats Client Suspension Rule, assisting the company in taking swifter action to prohibit manipulative behavior,

Tullett Prebon is in talks to acquire rival ICAP’s global broking business. The combination could generate around £70 million p.a.

A jury on Tuesday convicted high-frequency trader Michael Coscia of commodities fraud and "spoofing," in the U.S. government's first criminal prosecution of the banned trading practice. The verdict may energize prosecutors to pursue market manipulation cases and spur some high-speed traders to review their strategies, in which orders are sometimes executed or canceled within milliseconds after they are entered.
The U.S. government will square off in a Chicago courtroom on Monday against a high-frequency trader accused of using computer algorithms to move market prices, as prosecutors test their ability to enforce a new "anti-spoofing" law.
"Spoofing" creates a false sense of investor demand in the market, thus changing the behavior of other traders. It's illegal, but how can similar strategies be used in a legal way?
Michael Coscia, 52, of Rumson, New Jersey, the principal of Panther Energy Trading LLC, was indicted by a federal grand jury in Chicago and charged with six counts of commodities fraud and six of spoofing.
CFTC orders Panther Energy Trading LLC and its principal Michael J. Coscia to pay $2.8 million and bans them from trading for one year for spoofing in numerous commodity futures contracts.