CFTC Orders Spoofing Futures Traders To Pay $2.69 Million

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CFTC Orders Spoofing Futures Traders To Pay $2.69 Million

Postby » Tue Apr 05, 2016 7:15 am

The U.S. Commodity Futures Trading Commission (CFTC) has announced that a New York court has issued a consent order imposing a permanent injunction against United Arab Emirates (UAE) residents, Heet Khara and Nasim Salim, prohibiting them from engaging in spoofing.

The Comex futures contracts traders were originally charged in May 2015 for engaging in disruptive activity during the period of February 2015 and April 2015. Khara and Salim, both individually and in a coordinated fashion, regularly placed larger aggregate orders for gold and silver contracts on Comex opposite smaller orders and cancelled the larger orders after the smaller orders were ... (read more)

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