CFTC v. Citigroup Global Markets Inc. (spoofing, 2017)

Judgment entered

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In 2017, the Commodity Futures Trading Commission issued an order settling charges against Citigroup Global Markets Inc.. The order finds five Citigroup traders placed more than 2,500 U.S. Treasury futures orders they intended to cancel over eighteen months in 2011 and 2012, and that the firm failed to supervise them adequately. The release records a civil penalty of $25 million.

The record

What was ordered

Civil penalty

$25m

Disgorgement

—

Prejudgment interest

—

Total relief

$25m

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Commodity Futures Trading Commission announced this matter on January 19, 2017 as release 7516-17. The respondent named is Citigroup Global Markets Inc. (0 individuals, 1 entity).

This library tags the matter as spoofing, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The order finds five Citigroup traders placed more than 2,500 U.S. Treasury futures orders they intended to cancel over eighteen months in 2011 and 2012, and that the firm failed to supervise them adequately.

The conduct is recorded against futures, with CME identified in the release.

The relief recorded in our data is a civil monetary penalty of $25 million. Penalty and disgorgement are distinct: disgorgement returns the gain, while the penalty is punitive. We store them separately so that aggregate figures across the library are not double-counted.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Spoofing — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2017-01-19 CFTC release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• CFTC release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.