CFTC hands record fine to Tower Research Capital for spoofing

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 ...

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