The US Commodity Futures Trading Commission (CFTC) has again targeted spoofers in futures markets with two actions against firms, including a record fine for high frequency trading firm Tower Research. Tower was hit with a $67.4 million fine for failing to halt a spoofing scheme that lasted over two years and led to criminal charges […]
Tag: Tower Research
The US Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Kamaldeep Gandhi, in which Gandhi admits to engaging in manipulative and deceptive schemes, along with other individuals, which involved thousands of acts of spoofing with respect to a variety of futures products traded on the Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, and the Commodity Exchange (Comex).
At the same time the US Department of Justice (DoJ) charged Gandhi and two alleged co-conspiritors, Bruce Mao and Krishna Mohan, with spoofing offenses and says Gandhi and Mohan have admitted to the charges.
Ture Johnson, director of e-FX liquidity distribution and relationship management at Tower Research Capital in New York, has left the firm after nearly five years.
Along with his distribution responsibilities, he focused on trade and market analysis working closely with the trading teams.
Prior to joining Tower in mid-2012, Johnson spent the previous eight years working for several hedge funds including Graham Capital Management and starting his own fund. While working on the buy side, Johnson’s focus was on the electronic/algo side of the business.