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Anti abuse cases in the US and open anti abuse forum

The end of 2018 and first few days of 2019 have seen some anti abuse developments in the US, following the failed case highlighted in this post.

The case of Australian trader Jiongsheng “Jim” Zhao saw further developments this week. In January 2018, Zhao was arrested in Australia following charges of spoofing on the CME Globex platform in S+P Mini Futures between 2012 and 2017. The complaint can be found here. Zhao was extradited to the US and first appeared in court in November, eventually being bailed.  On Tuesday 2nd January 2019, Zhao was given until 9th April to provide his version of the events, following a ruling in the Northern Illinois District Court. This article on the Finance Feeds web site provides further details.

ICE has fined a trader $15,000 and given a 9 week suspension for persistent placing of order with no intention of execution. The notice can be found here. The DCM blog has commentary on the offence, which can be found here.

Open Anti Abuse Forum
An open forum for the discussion of anti abuse issues relating to the energy and commodity markets will be run in London on 11th March, organised on a non commercial basis. There have been a few clarifications and small changes made to the format. Information and a link to the booking facility can be found on the original post here.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


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