JPMorgan Chase & Co has agreed to pay USD15.7 million to settle a class action lawsuit. The bank was accused of deliberately manipulating prices of U.S. Treasury futures and options from April 2008 to January 2016. With a similar agreement last September, JPMorgan agreed to pay USD920 million to settle a lawsuit for spoofing in Treasuries and precious metals.
Spoofing is a practice in which traders place pending orders that they intend to cancel later, hoping to change prices in favor of their market positions.