CFTC Seeks To Ban Trader For Alleged Spoofing After Warnings Ignored

When a trading industry participant is given a warning about potential illegal behavior but then proceeds to continue nonetheless, such defiance typically doesn’t ingratiate the individual with regulators. Such appears the case as the CFTC on Monday filed a motion to ban a Chicago-based trader from further trading after a an earlier lawsuit from regulators failed to stop the behavior. Spoofing charges: “scheme created the appearance of false market depth” After the Commodity Futures Trading Commission (CFTC) brought a “spoofing” case against Chicago’s 3Red Trading LLC, the firm and its 33-year old trading chief Igor Oystacher continued their alleged illegal…