A case of "spoofing"

[anenro]

High-frequency trader Michael Coscia has become the first to be found guilty of "spoofing" commodity futures markets in a landmark criminal case for authorities attempting to clamp down on the deceptive practice.

Spoofing is rapidly placing orders with the intent to cancel them before they trade in order to trick other investors by creating the illusion of demand. The verdict may energize prosecutors to pursue other market manipulation cases and spur some high-speed traders to review their strategies.

[congregatio]

hm, this is probably going to an appeals court.

The counsel for the defendant was Sullivan & Cromwell and their strategy, outlined in this Memorandum
s3.amazonaws.com/pacer-documents/N.D.%20Ill.%2014-cr-00551%20dckt%20000028_000%20filed%202014-12-15.pdf
obviously did not work.
The Government argued in this Memorandum
www.bridgingtheweek.com/ckfinder/userfiles/files/Coscia-%20Government's%20Motion.pdf
which has its troubles as well.