/biz/ - Business & Finance

Guess the /pmg/ schizos were right after all.

>CFTC Orders JPMorgan to Pay Record $920 Million for Spoofing and Manipulation

https://www.cftc.gov/PressRoom/PressReleases/8260-20

>The order finds that, from at least 2008 through 2016, JPM, through numerous traders on its precious metals and Treasuries trading desks, including the heads of both desks, placed hundreds of thousands of orders to buy or sell certain gold, silver, platinum, palladium, Treasury note, and Treasury bond futures contracts with the intent to cancel those orders prior to execution. Through these spoof orders, the traders intentionally sent false signals of supply or demand designed to deceive market participants into executing against other orders they wanted filled. According to the order, in many instances, JPM traders acted with the intent to manipulate market prices and ultimately did cause artificial prices.