We’re not sure if you are aware of this, but the Commodity Futures Trading Commission doesn’t really have enough money to do its job, at least according to the Commodity Futures Trading Commission. This means some things, notably technologically advanced things like high-frequency spoofing, tend to fall through the cracks some times.
Budget constraints are not something that Ken Griffin is worried about, especially when dealing with Russians who have double-crossed him. But those who are merely causing some mischief in the market? Yeah, you’re gonna have to help him out on that one. Market regulation isn’t a charity.
The Chicago-based firm has filed a request with the U.S. Commodity Futures Trading Commission for whistleblower status, saying it uncovered unscrupulous trading on futures exchanges beginning in 2013, according to two people familiar with the matter who asked not to be named discussing private matters….
The Citadel claim relates to Igor Oystacher and his Chicago-based firm, 3Red Trading LLC, which the CFTC sued last year for allegedly spoofing, an illegal bait-and-switch tactic….
Menchel said the claim was filed for Citadel by John Nagel, the general counsel for Citadel Securities, the firm’s market-making unit. Only individuals, and not companies, are allowed to file as whistleblowers, according to CFTC rules.