JPMorgan Was Settling a USD15.7 million Spoofing Claim

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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.

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