Why no discussion of UBS, DB and HSBC spoofing fines?

V

vanv0029

I am surprised no one has posted any information on the US CFTC fines on spoofing.

https://www.reuters.com/article/us-...r-spoofing-manipulation-sources-idUSKBN1FF2YK

Maybe because ET posters think they are about to solve the AI automatic program trading problem. I assume all you API experts also have enough money to hire lobbyists. It seems to me only HFT algorithms benefit from the anti spoofing enforcement. Human discretionary traders have no problem with the pattern matching needed to distinguish spoofs. I do not understand why the CFTC enforces human front running laws, but allows HFT co-location front running, but then again my inability to afford my own lobbyists probably explains it.

https://www.reuters.com/article/us-...r-spoofing-manipulation-sources-idUSKBN1FF2YK
 
Notice how they always go after the spoofers overseas - looks like they are trying to protect their bigger home grown spoofers.
 
comagnum said:
Notice how they always go after the spoofers overseas - looks like they are trying to protect their bigger home grown spoofers.
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I am sure they don't. US firms have been nailed before for other offenses. I think the biggest problem is that their market regulation department simply doesn't have the manpower to monitor every market all the time and trace every questionable practice. There's a LOT slipping through the cracks.

http://www.cmegroup.com/notices/disciplinary/2017/10/cme-17-0568-bc-morgan-stanley.html#pageNumber=1
 
The exchanges also swore they had this under control years ago - sure, every once in a while they fine some operator some ridiculously small fine.

If you or I even for an hour did the level of spoofing & layering these big operators are doing routinely all day long we would be raided by the swat team and be looking at a 100+ years in prison.
 
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