empty
30.09.2020 11:41 AM
How JP Morgan fooled traders for 8 years

This image is no longer relevant

The US authorities said on Tuesday that JPMorgan Chase & Co is a JPM company that agrees to compensate more than $ 920 million for its offense related to manipulation of the US Federal market when trading Treasury securities, as well as metal futures.

According to the CFTC - Commodity Futures Trading Commission, JP Morgan used a manipulation scheme from 2008 to 2016 in placing orders by traders on one side of the market that they never intended to execute, thus creating a false impression of interest in buying or selling, which could raise or lower prices in accordance with the consent of their execution.

This manipulative practice designed to create the illusion of demand or lack of it is also known as "spoofing".

According to the CFTC, some of the transactions were made on JP Morgan's own account. Sometimes traders manipulated the market to facilitate trades for hedge Fund clients. And according to the Agency, when the new surveillance system revealed problems, the Bank continued to perform its manipulations even in 2014.

According to Daniel Pinto, CEO of JPMorgan Corporate and Investment Bank "the behavior of the individuals mentioned in today's resolution is unacceptable and they are no longer employed by the company."

He even added that the Bank has invested "significant resources" in strengthening its internal compliance policies, surveillance systems and training programs.

The Bank entered into an agreement with the Department of Justice and the United States Attorney's Office for the district of Connecticut to defer legal action, which prevented criminal prosecution on charges of electronic fraud.

In recent years, the CFTC and the Justice Department have targeted spoofing by using sophisticated data analysis tools that previously could not be detected.

Reuters reports that around 2017, the Agency began using methods it initially developed to detect healthcare fraud schemes in identifying suspicious trading patterns, including by scanning activity on exchanges.

The Commodity Futures Trading Commission said in a statement that this was the largest monetary penalty they had ever imposed. It includes a fine of $ 436.4 million, a refund of $ 311.7 million in damages, and the seizure of more than $ 172 million.

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2025
选择时间框架
5
分钟
15
分钟
30
分钟
1
小时
4
小时
1
1
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

推荐文章

XAU/USD。分析和預測

隨著投資者對美國總統特朗普激進貿易政策及其對全球經濟的影響保持擔憂,黃金持續上漲。此外,持續的地緣政治緊張局勢為這一避險資產提供了關鍵的助力。

Irina Yanina 13:22 2025-04-02 UTC+2

AUD/USD:分析與預測

今天,澳元/美元貨幣對正在顯示出積極的動力,從接近四週的低點反彈。 澳大利亞儲備銀行採取較不“溫和”的立場提供了支撐,該央行表示,將通脹恢復到目標水平是其首要任務。

Irina Yanina 12:25 2025-04-02 UTC+2

市場可能會因美國新關稅帶來增長而作出反應——但有一個條件...(英鎊/美元可能下跌,而美元/加元可能上漲)

唐納德·川普宣佈的「解放日」已經到來。市場正在擔心美國將對其貿易夥伴施行全面且大規模的關稅,以及這些國家的潛在報復措施。

Pati Gani 09:51 2025-04-02 UTC+2

市場需要證據

現在懼怕已經太遲了。市場上流傳著謠言,稱白宮可能會實施一個統一的 20% 稅率,而不是互惠關稅——將平均進口稅率推升至自 1930 年代以來的最高水平,並引發全球經濟震盪。

Marek Petkovich 09:16 2025-04-02 UTC+2

4月2日需注意什麼?初學者基礎事件解析

週三幾乎沒有宏觀經濟事件,但昨天的情況顯示,即使有大量的宏觀報告,也不一定在當天內觸發顯著的市場波動。今天,唯一值得注意的發佈將是美國的 ADP 就業報告,這份報告反映了私營部門就業的變化。

Paolo Greco 06:25 2025-04-02 UTC+2

GBP/USD 匯率概述 — 4月2日:英鎊依然停滯不前

英鎊/美元貨幣對繼續在窄幅波動範圍內交易。在4小時時間框架上,這是典型的橫盤整理;而在較低時間框架中,看起來更像是「搖擺」。

Paolo Greco 05:14 2025-04-02 UTC+2

歐元/美元匯率概覽 – 4月2日:美元再遭不幸

週二,歐元/美元貨幣對繼續表現懶散,交易慵懶。市場持續等待唐納德·特朗普的新關稅,即使昨日的宏觀經濟背景非常強勁。

Paolo Greco 05:13 2025-04-02 UTC+2

比特幣陷入牛市陷阱

底部無力,上方缺乏動能。即使是所謂的「聰明資金」也不急於購買比特幣,理由是多種負面因素交織而成。

Marek Petkovich 15:58 2025-04-01 UTC+2

美元/日元。分析與預測

今天,美元/日元貨幣對在小幅的日內上升走勢中艱難受益,尤其是在市場預期日本央行可能加快加息步伐的情況下。然而,特朗普總統潛在的報復性關稅增加了日本經濟的風險,這可能促使日本央行堅持當前的政策立場。

Irina Yanina 11:37 2025-04-01 UTC+2

美國股市:壞消息已完全反映在股價中

S&P 500 在三年來的季度表現最差。投資者正在將資本從北美轉移至歐洲。

Marek Petkovich 09:13 2025-04-01 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.