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

歐洲中央銀行從進取轉為謹慎的姿態

年度經濟論壇目前正在葡萄牙的辛特拉鎮進行,這就解釋了各地央行行長每天的演講。被分享的大部分信息都已經公開,但也有一些聲明提供了一些關於央行未來動向的線索。

Chin Zhao 00:42 2025-07-03 UTC+2

美元/日元。日元:中斷的飛行

美日貨幣對在兩天內下跌了200點,週二跌至接近四周來的新低,測試142.70的支撐位(D1圖表上的布林帶指標中線)。日圓不僅僅對美元走強,也對許多其他交叉貨幣對升值。

Irina Manzenko 00:38 2025-07-03 UTC+2

美元找到了它的致命弱點

小心你所期望的。歐元支持者認為,到2026年,EUR/USD 將至少達到1.25。

Marek Petkovich 00:38 2025-07-03 UTC+2

美元/日元。分析與預測

近期的政治和經濟聲明對美元/日元對的動態產生了重大影響。美國總統唐納德·特朗普對長期的日美貿易談判感到不滿,並不排除對日本進口商品徵收更高關稅的可能性,幅度可達到30–35%,遠高於先前宣布的24%。

Irina Yanina 18:51 2025-07-02 UTC+2

群眾定調,市場緊隨其後

不要對抗。S&P 500 指數能夠創下新高,因為市場專業人士,也就是所謂的「聰明錢」,認為沒有必要違背當前的趨勢。

Marek Petkovich 12:46 2025-07-02 UTC+2

AUD/USD。分析與預測

今天,澳元/美元從昨日達到的年度新高0.6590略微回落,目前在窄幅區間內交易。然而,進一步下跌的潛力似乎有限。

Irina Yanina 12:44 2025-07-02 UTC+2

美元/瑞士法郎。分析與預測

美元/瑞郎貨幣對繼續在0.7900水平以上的狹窄範圍內交易,保持在2011年以來的價格水準附近。 美元在經歷昨日三年低點後,出現了一定的回升。

Irina Yanina 11:58 2025-07-02 UTC+2

投資者充滿樂觀情緒,推動市場需求攀升(歐元/美元和英鎊/美元貨幣對可能面臨調整性下跌)

市場繼續對中東局勢穩定的預期作出積極反應,期待以色列和伊朗之間的談判。同時,投資者已將全部注意力轉向了美國勞動力市場意外樂觀的數據以及聯邦儲備主席的評論。

Pati Gani 11:22 2025-07-02 UTC+2

鮑威爾:如果不是因為關稅,利率可能會更低

美聯儲主席鮑威爾重申,如果不是唐納德·特朗普總統在貿易關稅上過度使用,美國中央銀行今年很可能會進一步降息。 「基本上,我們在看到關稅規模後便暫停了,事實上美國的所有通脹預測都因這些關稅而被顯著修改,」鮑威爾在與其他主要中央銀行官員的座談會上於週二表示。

Jakub Novak 10:50 2025-07-02 UTC+2

強勢歐元日益引起歐洲央行決策者關注

歐元今年大幅上漲,歐洲中央銀行(ECB)的官員正越來越擔心這一貨幣的快速升值可能會使維持通脹在2%目標的努力受挫。 今年迄今為止,單一貨幣相對於美元已經上漲約14%,原因是對美國的信心減弱。

Jakub Novak 09:24 2025-07-02 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.