Spoofing Trial Jury Told Orders Canceled at 24 Times HFT Rate

  • Coscia's firm placed and then canceled orders, witness says
  • Trial is first under Dodd-Frank's ban on trader spoofing

Spoofing Law to Get Biggest Test Yet

Michael Coscia canceled 24 times more orders in a two-month span in 2011 than the typical high-frequency trader in Brent crude oil did, a jury in Chicago was told in the first U.S. spoofing trial.

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