Dodd Frank Section 747 brought us a rule against "spoofing," which is the entry of an order in the futures markets with the intention to cancel the order before it is acted upon. CME Group in its Rule 575 went a little further and also prohibited orders entered with the intent to mislead other market participants. With those two rules in mind, please take the following quiz and see if you can tell the difference between spoofing and legitimate trading. Remember, the trader always says he intends to trade and the regulator always thinks that the trader intends to spoof.
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