CEA section 4c(a)(5)(C)

Section 4c(a)(5)(C) of the Commodity Exchange Act is the express anti-spoofing provision added by the Dodd-Frank Act in 2010. It prohibits bidding or offering with the intent to cancel before execution, and requires no proof that the price moved or that anyone lost money.

Also known as the anti-spoofing provision. law and enforcement · updated 2026-09-08

Where does cea section 4c(a)(5)(c) come up?

This term is used in the following manipulation techniques, each explained in full on its own page.

• Spoofing — Spoofing is placing orders a trader intends to cancel before execution, to create a false impression of supply or demand and move the price toward a smaller genuine order on the other side.
• Layering — Layering is placing multiple orders at several consecutive price levels with no intention of trading them, building an apparent wall of depth that pushes the price toward a genuine order on the other side.

Enforcement actions involving these techniques

See also

• Dodd-Frank Act — The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 restructured US financial regulation after the 2008 crisis. …
• CEA section 6(c)(1) — Section 6(c)(1) of the Commodity Exchange Act gives the CFTC authority over manipulative or deceptive devices in connection with a…

Terms that refer here

CEA section 6(c)(1) · Designated contract market · Dodd-Frank Act · Registered entity

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