US commodities regulators have levied a $25mln penalty on Citigroup Global Markets (NYSE:C) on Thursday to settle charges of “spoofing” – entering bids or offers with the intent of cancelling them before execution – in the US Treasury futures market.
The US Commodity Futures Trading Commission said the spoofing took place between between 2011 and 2012 and involved more than 2,500 orders placed by five traders at Citigroup.
Citi shares were down 0.7% at $56.98 on Thursday.