CME Punishes Trader for Spoofing Soybean Oil Futures Market
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CME Group Inc. fined a trader, Peter DiStaulo, $20,000 and suspended him for 60 days for allegedly engaging in a form of market manipulation known as spoofing.
DiStaulo placed orders for soybean oil futures without intending to actually complete the transactions, according to a disciplinary action released Friday by Chicago-based CME, which runs the exchange where the contracts trade. The alleged misconduct occurred in August 2012 and also between Jan. 1 and April 1, 2014, CME said.