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.


  • 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 signal of more supply/demand
  • CFTC order concludes, that Flotron’s conduct was deceptive and manipulative.


  • $100k civil monetary penalty imposes a one-year trading and registration ban.