CFTC Sanctions Colorado Trader for Futures Spoofing on CME

The CFTC sanctioned Colorado trader Brett Falloon and Flatiron Futures Traders for spoofing in the E-mini S&P 500 and E-mini Nasdaq 100 futures markets on the Chicago Mercantile Exchange.

• Falloon and Flatiron must pay a $200,000 civil monetary penalty; Falloon is also banned from trading commodity interests for 12 months
• CFTC alleges Falloon engaged in spoofing while trading on Flatiron’s behalf
• Alleges aggregate number of contracts in his spoof orders outnumbered the contracts in his legitimate orders 5-to-1

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To contact the reporter on this story:
Ilya Banares in Toronto at ibanares@bloomberg.net ...