How a Sydney trader landed in the centre of US fraud bust

[barryqwalsh]

He was one of eight men charged in January with manipulating futures contracts, which traders use to wager on anticipated price changes in those assets. They are accused of spoofing - the practice of placing fake orders and quickly cancelling them, in order to artificially raise or lower prices, then capitalising on it by concurrently placing genuine orders to buy or sell.


'Tricks from the master': How a Sydney trader landed in the centre of US fraud bust