“Groth entered these large orders for the purpose of inducing other market participants to trade opposite his smaller resting orders,” the exchange said, adding that this was a violation of its rules. CME Group has fined trader , James Groth , $ 55,000 and jailed him for ten days for ' spoofing ' , where Groth placed orders for Treasury futures without intending to actually complete the transactions ; Groth has made no comment on the accusations . Spoofing is banned as it can trick other traders into believing prices are going to move , encouraging them to nudge up prices in the direction the cheater intends . This form of market manipulation has received a lot of attention recently due to allegations it helped bring on the 2010 flash crash .
CME Group has fined trader , James Groth , $ 55,000 and jailed him for ten days for ' spoofing ' , where Groth placed orders for Treasury futures without intending to actually complete the transactions ; Groth has made no comment on the accusations . Spoofing is banned as it can trick other traders into believing prices are going to move , encouraging them to nudge up prices in the direction the cheater intends . This form of market manipulation has received a lot of attention recently due to allegations it helped bring on the 2010 flash crash .