CME “Spoofing” Investigation Closed with No Action Taken

Represented a hedge fund trader targeted in a CME investigation into alleged “spoofing,” or the entering of bids with the intent to cancel before execution, a practice made illegal under the Dodd-Frank Act, and one which has come under increased scrutiny under new CME anti-disruptive trading rules. Working with a massive volume of electronic trades, Herrick successfully guided the client through the investigation which was ultimately closed by the CME with no action taken.