CME Group has fined trader, James Groth, $55,000 and suspended 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. The CFTC said in a statement that it had received an anonymous complaint from one of its employees about trading activity at CME's Chicago office. In April, U.S. prosecutors accused Navinder Singh Sarao of engaging in the technique for years and helping spur the flash crash, which erased almost $1 trillion from U.S. stocks in minutes in May 2010. This form of market manipulation has received a lot of attention recently due to allegations it helped spur on the 2010 flash crash.
CME Group has fined trader, James Groth, $55,000 and suspended 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. The CFTC said in a statement that it had received an anonymous complaint from one of its employees about trading activity at CME's Chicago office. This form of market manipulation has received a lot of attention recently due to allegations it helped spur on the 2010 flash crash.