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Chicago trading firm and co-founder to pay USD2.5m in CFTC penalties for spoofing and manipulative trading scheme

Chicago trading firm and co-founder to pay USD2.5m in CFTC penalties for spoofing and manipulative trading scheme

The US Commodity Futures Trading Commission has filed and settled enforcement actions against Hard Eight Futures, and Igor Chernomzav for spoofing – bidding or offering with the intent to cancel the bid or offer before execution – and for engaging in a manipulative and deceptive trading scheme.