March 30, 2017

Stephen Gola and Jonathan Brims were ordered to pay $350,000 and $200,000 respectively for spoofing in U.S. Treasury Futures Markets. The CFTC Order found that between July 2011 and December 2012, Gola and Brims engaged in spoofing more than 1,000 times in various Chicago Mercantile Exchange U.S. Treasury futures markets. The spoofing was done by placing orders in a futures market after a smaller bid was placed on the opposite side of the same or correlated futures or cash market. CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Market Manipulation and Trading Violations,