Judge Turns Up Heat on Accused Spoofer Oystacher
- Chicago trader must face both injunction hearing and trial
- CFTC says Oystacher tried to manipulate futures prices
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U.S. commodities regulators can seek to stop alleged spoofer Igor Oystacher from trading before a trial is held in their lawsuit pursuing a ban, a federal judge decided Thursday.
Oystacher, accused of trying to manipulate the prices of futures by placing orders without any intention of executing them, lost his bid to put off the Commodity Futures Trading Commission’s request for an injunction before the trial. His lawyers had argued that preparing for such a hearing would be like getting ready for the full-blown trial, and sought instead to expedite the trial itself.