An Australian-based proprietary trading firm settled DOJ and CFTC charges for spoofing.
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The CFTC and DOJ settled charges with a proprietary trading firm for engaging in spoofing in equity futures contracts over a two-year period.
A financial institution settled CFTC charges of spoofing, manipulation and the attempted manipulation of certain precious metals futures contracts.
A former precious metals trader pleaded guilty to DOJ charges of manipulating the buying and selling of futures contracts.
University of Houston Finance Professor Craig Pirrong argued that, in a recent criminal case , the DOJ miscalculated the amount of harm caused by three commodities traders for spoofing. In analyzing the criminal indictment, Professor Pirrong stated that the DOJ should not have relied upon the notional value of the futures contracts to calculate the amount of harm. According to Professor Pirrong, the actual harm caused by spoofing is represented not by the notional value of the contracts, but by the spread on such contracts that other traders pay or lose the opportunity to earn when they make