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

特朗普計劃鎮壓起義

連續多日來,由於唐納·川普的新移民政策,美國一些主要城市爆發抗議活動和動亂。這次,美國總統決定驅逐所有非法移民。

Chin Zhao 00:35 2025-06-12 UTC+2

歐元/美元。在貿易協議的陰影下:美國通脹報告給美元帶來壓力

美國的通脹報告參差不齊,給美元帶來壓力。美元指數回到了98.00,而歐元/美元匯率刷新了本週高點,上升至1.1491。

Irina Manzenko 00:35 2025-06-12 UTC+2

美元是否會維持現狀?

要對未來做出準確的預測,必須審視過去。自今年年初以來,EUR/USD 的超過 10% 漲幅是由四個關鍵因素推動的:德國在三月份從財政約束轉向支出,四月與美國獨立日相關的關稅,從美國流向歐洲的資本外流,最後是投機性頭寸的重大轉變——從對美元的過度看多轉向看空。

Marek Petkovich 00:35 2025-06-12 UTC+2

XAU/USD。分析與預測

目前,黃金價格仍受限於每週的波動範圍內。支持價格上漲的關鍵因素包括美國聯邦上訴法院決定維持唐納德·川普總統的“解放日”關稅,同時法庭繼續審查其暫緩執行的狀況。

Irina Yanina 18:35 2025-06-11 UTC+2

美元/日元。分析與預測

在這個階段,日圓繼續在日內鞏固區間內交易,接近昨天兌美元創下的兩周低點。影響遠東貨幣走勢的主要因素包括今天的數據顯示日本五月份的年度批發通脹減緩,這減輕了日本央行升息的壓力。

Irina Yanina 18:33 2025-06-11 UTC+2

EUR/GBP. 分析與預測

然而,目前即便基本面背景顯示即期價格最小阻力的走向是向上的,但缺乏后續的買盤跟進。英鎊表現疲軟與英國就業數據令人失望有關,這加強了市場對英國央行今年將降息兩次的預期。

Irina Yanina 11:38 2025-06-11 UTC+2

美中談判第二輪結果

美國和中國結束了為期兩天的重要貿易談判,達成了一項恢復敏感商品流通的計劃——該框架現在等待唐納·川普和習近平的批准。 在倫敦進行了20小時的會談後,美國商務部長Howard Lutnick表示,雙方已經制定了實施日內瓦共識的結構。

Jakub Novak 11:32 2025-06-11 UTC+2

美國與中國:向前邁出一小步。接下來會是什麼?(對歐元/美元和紐元/美元貨幣對的逆轉和下跌的潛力)

來自美國和中國的代表在倫敦進行了兩天的高級別會談後達成了一項貿易框架協議。但為什麼市場上沒有出現欣喜若狂的情緒呢? 代表團之間的協議是基於特朗普和習近平之間的電話交談,該通話有助於緩解兩國之間的緊張關係。

Pati Gani 09:52 2025-06-11 UTC+2

市場接近它的界限

細節決定成敗——美國和中國尚未向投資者提供有關其新達成協議的細節。這種缺乏透明度的情況可能會阻斷標普500指數多頭的動能。

Marek Petkovich 09:18 2025-06-11 UTC+2

6月11日該注意什麼?新手必看的基本事件解析

週三幾乎沒有安排宏觀經濟報告。因此,任何急劇的逆轉或運動的加強可能僅在美國交易時段開始時發生,因為那時將公布美國五月份的通脹報告。

Paolo Greco 06:10 2025-06-11 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.