NYMEX Fines And Suspends Traders For Spoofing Activity

The NYMEX Business Conduct Committee (the "BCC Panel") fined and suspended two traders (see here and here) for spoofing in the NYMEX Energy Futures markets.

According to the BCC Panel, the traders entered larger orders on one side of the market, which they canceled after executing smaller resting orders on the opposite side of the book.

One trader, who placed spoof orders in the RBOB Gasoline and NY Harbor ULSD Futures markets, was ordered to (i) pay $65,000, (ii) disgorge $41,418, and (iii) serve a three-week trading suspension.

The other trader, who placed spoof orders in the RBOB Gasoline, Crude Oil and NY Harbor ULSD Futures markets, was ordered to (i) pay $45,000 and (ii) serve a two-week trading suspension.