Page 27 - 期货和衍生品行业监管动态（2025年9月）

期货和衍生品行业监管动态

parties were ordered to cease and desist violating the spoofing prohibition in the

Commodity Exchange Act.

The order finds that from May through December 2022, Falloon engaged in

spoofing while trading on Flatiron’s behalf by placing bids and offers with the intent

to cancel them before execution.

Falloon’s trading followed a pattern: He placed genuine orders that he intended

to execute on one side of the order book while entering the spoof orders he planned to

cancel on the opposite side. Once his genuine orders were filled, he canceled the

spoof orders. His genuine orders were often aggressive, meaning they crossed the

bid-ask spread and were immediately filled.

Falloon’s spoof orders usually constituted a large percentage of orders resting at

the top price levels. The aggregate number of contracts in his spoof

orders outnumbered the contracts in his legitimate orders 5-to-1.

The order also finds Falloon placed the spoof orders with the intent of

misleading other market participants. His conduct induced other traders to either cross

the bid-ask spread to fill his genuine orders, or place resting orders at the best offer,

allowing Falloon to fill his genuine orders faster, in larger quantities or at more

favorable prices.

The CFTC thanks CME Group Inc. for its assistance in this matter.

https://www.cftc.gov/PressRoom/PressReleases/9118-25

7. 美国商品期货交易委员会撤销关于自愿碳信用衍生品合约上市的指导意见

（2025 年 9 月 10 日）

美国商品期货交易委员会（CFTC）宣布撤销其“关于自愿碳信用衍生品合

约上市的指导意见”。

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