HFT firm fined for allegedly manipulating commodity markets

The Commodity Futures Trading Commission, the U.K. Financial Conduct Authority and CME Group have fined Panther Energy Trading and owner Michael Coscia $4.5 million to settle allegations that they manipulated commodity markets via algorithms for high-frequency trading. Panther and Coscia also face a one-year ban on trading, imposed by the CFTC. Under the Dodd-Frank Act, the CFTC received power to combat "spoofing." This is the first time that authority has been used.

View Full Article in:

Bloomberg · Reuters · Washington Post (tiered subscription model), The · Wall Street Journal (tiered subscription model), The · New York Times (tiered subscription model), The · Financial Times (tiered subscription model)

Published in Brief: