Tag Archives: spoofing

CFTC Fine for Metals Spoofing

On Feb. 7, CFTC fined precious metals trader $100k for fraud. Andre Flotron, ex-UBS AG precious metals trader engaged in spoofing scheme. Allegations From 2008 through Nov. 2013, Flotron placed large orders in precious metals futures markets with the intent to cancel the orders before they are executed. Flotron intended to send market participants a…
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CFTC Soybean Futures Spoof

On Jan. 31, CFTC fined trader $120k re spoofing soybeans. Charged, Kevin Crepeau a trader at a proprietary trading firm trading on CME. Allegations In 2013-16, Crepeau placed orders to buy/sell futures contracts on soybeans, soybean meal, and soybean oil, with intent to cancel orders before execution. Used automated tool for small bid/offer on one…
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CFTC Mizuho Fine for Spoofing

On Sep. 21, CFTC fined Mizuho¬†$250k for futures spoofing. Mizuho Bank Ltd settled CFTC charges, for engaging multiple acts of spoofing. Alleged Violations A trader engaged in spoofing on CME, CBOT in US Treasury, Eurodollar futures. Engaged in activity through trader, who accessed markets via Singapore office. Trader placed large buy and sell orders via…
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CFTC Spoofing in Commodities

On Sep. 20, CFTC fined Geneva $1.5mn for commodity spoofing. Geneva Trading USA charged with disruptive practices, via three employees. Alleged Violations Order found all three unidentified traders used the same pattern of spoofing. Manually placed smaller orders on one side of market at or near best prices, while placing larger order or series of…
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