Propex Derivatives Pty Ltd caught spoofing, agrees to pay $1 million LeapRate

January 22, 2020 BY Steffy Bogdanova

Propex Derivatives Pty Ltd caught spoofing, agrees to pay $1 million

Commodity Futures Trading Commission (CFTC) issued an order for $1 million against Propex Derivatives Pty Ltd (Propex), Australia-based proprietary trading firm, implicated in a spoofing scheme. The company was involved in unlawful trading activities on the U.S. commodities market through former trader in the period of July 2012 to March 2017. Propex agreed to pay…

October 01, 2018 BY LeapRate Staff

Bank of Nova Scotia hit with $800,000 fine for Precious Metals Spoofing

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has issued an Order filing and settling charges against the Bank of Nova Scotia (BNS) for engaging in multiple acts of spoofing in gold and silver futures contracts traded on the Chicago Mercantile Exchange (CME). The Order finds that BNS engaged in this activity by and…

September 20, 2018 BY LeapRate Staff

CFTC hits Geneva Trading USA with $1.5M fine for Spoofing

The U.S. Commodity Futures Trading Commission (CFTC) announced that it has issued an Order filing and settling charges against Geneva Trading USA, LLC, a proprietary trading firm in Chicago, Illinois, for engaging in the disruptive trading practice of “spoofing.” The Order finds that Geneva engaged in this activity through three of its employees identified in the…

January 29, 2018 BY LeapRate Staff

Spoofing and Commodities Fraud charges lead to $46 million in fines for Deutsche Bank, HSBC and UBS

The U.S. Commodity Futures Trading Commission today announced, in conjunction with the Department of Justice and Federal Bureau of Investigation’s Criminal Investigative Division, criminal and civil enforcement actions against three banks and six individuals involved in commodities fraud and spoofing schemes. What is spoofing? Spoofing is the practice of bidding or offering with the intent to…

October 10, 2017 BY LeapRate Staff

Arab Global Commodities DMCC fined in the US for copper futures Spoofing

The U.S. Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Arab Global Commodities DMCC (AGC), a proprietary trading firm headquartered in Dubai with several trading offices in India, for engaging in the disruptive trading practice of “spoofing” in the copper futures contract traded on the Commodity Exchange, Inc. (COMEX) between March…

October 02, 2017 BY LeapRate Staff

Logista Advisors LLC to pay $250,000 fine for Spoofing on a foreign futures exchange

The U.S. Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Logista Advisors LLC, a crude-oil-trading firm based in Houston, Texas. The Order finds that, from approximately September 2013 through October 2014, Logista failed to diligently supervise the handling by its employees and officers of commodity interest accounts and other…

August 07, 2017 BY LeapRate Staff

Bank of Tokyo-Mitsubishi UFJ fined for futures Spoofing

The U.S. Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Mitsubishi UFJ Financial Group Inc (TYO:8306) unit The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) for engaging in multiple acts of spoofing in a variety of futures contracts on the Chicago Mercantile Exchange and the Chicago Board of Trade, including futures…

July 26, 2017 BY LeapRate Staff

CFTC bans and fines commodities trader Simon Posen for Spoofing

The U.S. Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Simon Posen of New York, New York for engaging in thousands of incidents of “spoofing” in gold, silver, and copper futures contracts traded on the Commodity Exchange, Inc., and crude oil futures contracts traded on the New York Mercantile Exchange over a…

June 30, 2017 BY LeapRate Staff

CFTC enters into Non-Prosecution Agreements with former Citi traders in Treasury Spoofing case

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it entered into non-prosecution agreements with Jeremy Lao of New York, Daniel Liao of Minato-Ku, Japan, and Shlomo Salant of New York. In their non-prosecution agreements, Lao, Liao, and Salant each admits that he engaged in the unlawful disruptive trade practice of “spoofing” (bidding or offering with…

June 02, 2017 BY LeapRate Staff

Former Deutsche Bank trader David Liew banned for Spoofing and Manipulation of Gold and Silver Futures markets

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against David Liew for engaging in numerous acts of spoofing, attempted manipulation, and, at times, manipulation of the gold and silver futures markets. Liew engaged in this unlawful conduct for more than two years while he was employed as a…

Tag: spoofing