CFTC hands record fine to Tower Research Capital for spoofing

Judgement
By Ross Lancaster
07 Nov 2019

The US Commodity Futures Trading Commission has slapped Tower Research with a record $67.4m fine for spoofing in the equity futures market.

The CFTC said that the fine covered a near two year period in which three former Tower traders spoofed thousands of orders for equity index futures. The products were listed on the Chicago Mercantile Exchange and the Chicago Board of Trade.

Traders spoof by placing orders to buy ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.