The Market Ticker
Commentary on The Capital Markets- Category [Corruption]

Gee, just one eh?

The Justice Department announced Thursday it had brought first-ever charges against a high-frequency trader for manipulating prices in commodity markets.

Calling it the first federal prosecution of its kind, the Justice Department said it had charged a New Jersey-based trader with six counts of commodities fraud and six counts of “spoofing,” stating he reaped nearly $1.6 million in ill-gotten profits.

The case marks the first time the government has brought charges under an “anti-spoofing” provision included in the Dodd-Frank financial reform law.

This goes on in the futures and stock markets literally every day.

Nanex has documented dozens upon dozens of instances, I put a video up a few years ago documenting a particularly-visible apparent case of it in the /ES futures over a holiday and there have been myriad other reports.

Nobody goes to jail and it isn't (obviously) stopped.

Will this (finally) get enough attention among the HFT crowd that the "issue and cancel" nonsense will end?

I'll take "No" on that wager.

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