COMEX Suspends Non-Member Trader For Spoofing
Elise Fleischaker
On August 22, 2016, CME Group’s Market Regulation Department (“Market Regulation”), through its Chief Regulatory Officer, summarily denied Andrey Sakharov (“Sakharov”) direct and indirect access to all CME Group markets by any member or member firm and any non-member firm introducing business to a member firm, including the CME Globex electronic trading platform (“Globex”), any other electronic trading or clearing platform owned or controlled by CME Group, and all trading floors owned or controlled by CME Group. The summary access
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First Federal Spoofing Prosecution
Elise Fleischaker
Trader Sentenced in Case Involving Manipulation of Market Prices It’s often referred to as “spoofing”—but it’s definitely no joke. Using computer algorithms or other means to manipulate commodity market prices in order to line your own pockets is a federal crime, a provision of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. And last month in a Chicago courtroom, a trader—after being convicted in the first-ever federal prosecution for spoofing under the 2010 law—was sentenced to federal prison.
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FIX Trading Community develops standards for MiFID II transaction and trade reporting 
Elise Fleischaker
MiFID II Transaction Reports to Approved Reporting Mechanisms (ARMs).Under MiFID II, all investment firms (including certain buy-side institutions) executing transactions in financial instruments are required to report details of their transactions to the national regulator as quickly as possible, and no later than the close of the following working day.  At the recently held FIX EMEA Trading Conference, nearly 70% of respondents stated that use of the FIX Protocol would be their preferred standard for these reporting requirements to ARMs
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New CFTC trading rule is ‘extreme overkill’
Elise Fleischaker
The former CFTC commissioner Bart Chilton went on record with CNBC saying that the Source Code requirements in Regulation Algorithmic Trading (REG-AT) is extreme overkill and a very slippery slope. Many in the listed derivatives trading industry strongly believe that ideas and methods that are expressed in our Source Code is critically important and extremely sensitive. It is our proprietary information. As such it should be provided with the utmost the highest level of legal (and governmental) protection. Requiring the
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CME Group Disciplinary Action – Rule 575 Spoofing
Elise Fleischaker
26 May 2016 EXCHANGE RULES: Rule 575.A. (DISRUPTIVE PRACTICES PROHIBITED) All orders must be entered for the purpose of executing bona fide transactions. Additionally, all non-actionable messages must be entered in good faith for legitimate purposes. A. No person shall enter or cause to be entered an order with the intent, at the time of order entry, to cancel the order before execution or to modify the order to avoid execution. FINDINGS: Pursuant to an offer of settlement Joshua Bailer
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CME Group fines, bars two UAE futures traders over ‘spoofing’
Elise Fleischaker
Thursday Apr 28, 2016 Two futures traders in the United Arab Emirates banned from U.S. commodity markets last month for the disruptive practice known as "spoofing" faced additional penalties from CME Group Inc on Thursday.  
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Chicago aerial
Basel III Capital Requirements Affect You
Elise Fleischaker
The investor is beginning to feel the impacts of increased capital requirements under the Basel leverage ratio according to FIA President and CEO Walt Lukken in his testimony to the members of the U.S. House of Representatives. The capital requirements simply mean that the futures commission merchants (FCM), banks, and broker dealers (BD) must maintain more money to help cover the positions held on behalf of their clients. The goal is to protect our banking industry, and our end investors.
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Futures Trading, STEM, and the Boy Scouts
Elise Fleischaker
Science Technology Engineering Math (STEM) recently was highlighted in Market Voice Magazine with a program involving the Chicago area Boy Scouts.  There are a few points that I want to highlight about both Scouting and STEM. Boy Scouts has a program called Venturing, or Venture Crews. Venture Scouts are young men and women ages 14 to 21. STEM isn’t for men only. We need diversity of all types in STEM. STEM isn’t only “T”. The Science, Engineering, and Math are important
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U.S., UK likely to charge multiple banks in Libor rigging: WSJ
Elise Fleischaker
U.S., UK likely to charge multiple banks in Libor rigging: WSJ Here we go again....
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CFTC going after Spoofing from Feb 2 & 3 2016
Elise Fleischaker
The CFTC seems to be getting much more real time.  In the past their cases covered preceding years. Old stuff. Now they seem to be adding in charges that are only 10 days old.  Hmmm.  Are they really getting that responsive? Bloomberg: CFTC expands case against 3Red for Spoofing
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