New York (CNN Business) JPMorgan Chase, the largest bank in the United States, agreed Tuesday to pay a record $920 million to settle charges that it engaged in manipulative trades of futures tied to precious metals and Treasury bonds. Spoofing can manipulate markets by indicating false demand for an asset. The practice can raise or lower prices of assets, depending on what the spoofer desires. "This record-setting enforcement action demonstrates the CFTC's commitment to being tough on those who intentionally break our rules, no matter who they are. Attempts to manipulate our markets won't be tolerated."

Source: CNN September 29, 2020 18:11 UTC