January 31, 2019

The CFTC suspended Chicago trader Kevin Crepeau and ordered him to pay a $120,000 for engaging in spoofing in the Chicago Mercantile Exchange (CME) soybeans futures market. According to the CFTC, Crepeau placed orders to buy or sell futures contracts on soybeans, soybean meal, and soybean oil with the intent to cancel to induce other market participants to fill his other orders on the opposite side of the market.  Then, he cancelled the fake orders after his genuine orders had been filled. CFTC

Tagged in: Financial and Investment Fraud,