We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Ex-Citibank Traders Hit With CFTC Fines Over Spoof Orders

Law360, New York (March 30, 2017, 5:08 PM EDT) -- Two former Citigroup Global Markets traders must pay fines to settle U.S. Commodity Futures Trading Commission allegations that they sought to manipulate the market for U.S. Treasury futures by placing spoof orders, the agency said Thursday.

The CFTC said that Stephen Gola and Jonathan Brims each placed more than 1,000 fake orders for U.S. Treasury futures products on the Chicago Mercantile Exchange in an effort to induce other traders into filling smaller orders that Citigroup Global Markets Inc. placed on the opposite side of the market, a tactic known as spoofing. Brims, a former vice president for the broker-dealer subsidiary of...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS