CME Group Inc., the operator of the biggest U.S. futures market, has a spoofing problem.
Complaints about the practice—using fake orders to manipulate prices, then withdrawing them—are widespread. Enforcement is lax, and prosecutions are rare.
The arrest this week in London of trader Navinder Singh Sarao for allegedly spoofing the CME's stock futures market was only the second time such charges have been brought since 2010, when the Dodd-Frank act made such abuses illegal.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
