Page 27 - 期貨和衍生品行業監管動態（2025年9月）
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期貨和衍生品行業監管動態
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. 美國商品期貨交易委員會撤銷關于自愿碳信用衍生品合約上市的指導意見
（2025 年 9 月 10 日）
美國商品期貨交易委員會（CFTC）宣布撤銷其“關于自愿碳信用衍生品合
約上市的指導意見”。
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