CME Group Permanently Bars Three Traders for Exchange Violations
- One trader barred for alleged spoofing on NYMEX, COMEX
- Traders all fined for alleged rule breaking at exchanges
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CME Group Inc., owner of the world’s largest futures market, permanently barred three people from trading on its platforms, accusing them of rules violations, including a form of market manipulation known as spoofing.
Nitin Gupta was fined a total of $150,000 by the CME’s New York Mercantile Exchange and the Commodity Exchange for allegedly entering large orders for gold, silver, copper and crude oil futures without the intent to trade, according to disciplinary notices released on Monday by the Chicago-based CME.