2 UAE traders fined $2.6 million for 'spoofing' in futures markets | GulfNews.com:
"Market regulators in the United States have ordered two residents in the UAE to pay a fine of $2.69 million (Dh9.8 million) over claims that they were “spoofing” the precious metals futures markets in New York.
The order, issued by a federal court in Manhattan and announced by the US Commodity Futures Trading Commission (CFTC) on Tuesday, has prompted questions on whether or not there’s been a growing trend of investors who are out to manipulate the markets to make money.
Spoofing is a trickery that traders use to mislead market participants. Investors would normally place large orders they intend to cancel later."
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