Chicago-based trader Igor Oystacher and his firm 3Red Trading LLC were charged with cheating on some of the world’s biggest futures exchanges, the latest attempt to snuff out a form of manipulation known as spoofing (CFTC v. Oystacher, N.D. Ill., n/a, complaint 10/19/15).
The Commodity Futures Trading Commission accused 3Red and Oystacher of creating “the appearance of false market depth” to benefit their own interests “while harming other market participants,” the agency said in a statement on its website. The spoofing allegedly occurred on the Chicago Mercantile Exchange, the New York Mercantile Exchange, the Commodity Exchange and ...
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