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Spoofing involves placing orders traders intend to cancel, hoping to create a false sense of market activity that moves prices in a direction they favor, and induce transactions that other traders would otherwise would not make.
NEW YORK -Bank of America has been fined $24 million after two former traders placed phony spoof trades to try to influence the market for U.S. Treasuries, the Financial Industry Regulatory Authority... -November 30, 2023 at 11:57 am EST - MarketScreener
The CFTC’s recent announcement that it is paying a whistleblower a $200 million award for providing information about wrongdoing concerning the…
The CFTC’s recent announcement that it is paying a whistleblower a $200 million award for providing information about wrongdoing concerning the manipulation of financial benchmarks used by global banks is likely to spur more whistleblowers to assist the CFTC
ADVERTISEMENT Traders Urge Ill. Jury To Reject Feds' Market Spoofing Claims Law360 (August 2, 2021, 10:37 PM EDT) -- Two former Merrill Lynch traders urged an Illinois federal jury Monday to clear them of prosecutors' charges that they used fake orders for precious metals to manipulate the commodities market in their favor, arguing the government's case is flawed. During closing arguments at trial, traders Edward Bases and John Pacilio argued the government shouldn't be allowed to get away with presenting cherry-picked trading data and other types of insufficient evidence to secure a convicti...