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The CFTC is alleging that five traders at Citigroup Global Markets placed more than 2,500 orders over 18 months with the intent to cancel them before execution.
The CFTC has fined Citigroup Global Markets Inc. $25 million for spoofing, citing the actions of traders and managers who demonstrated a lack of proper supervision, training and regulatory compliance. Spoofing, the commission says, is “bidding or offering with the intent to cancel the bid or offer before execution.” In this case, the spoofing took...
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