Spot market
A spot market trades an asset for immediate delivery, as opposed to a future date. The relationship between spot and derivatives prices is what makes cross-market manipulation possible.
Where does spot market come up?
This term is used in the following manipulation techniques, each explained in full on its own page.
Enforcement actions involving these techniques
| Action | Agency | Filed | Technique | Penalty | Status |
|---|---|---|---|---|---|
| SEC v. TD Securities (USA) LLC (cash vs derivatives schemes, 2024) | SEC | 2024-09-30 | Cash Vs Derivatives Schemes , Spoofing | — | unknown |
| CFTC v. HSBC Bank USA (cash vs derivatives schemes, 2023) | CFTC | 2023-11-07 | Cash Vs Derivatives Schemes , Insider Trading +2 | $1.7bn | filed |
| CFTC v. unnamed respondents (cash vs derivatives schemes, 2023) | CFTC | 2023-06-12 | Cash Vs Derivatives Schemes | — | unknown |
| CFTC v. unnamed respondents (cash vs derivatives schemes, 2022) | CFTC | 2022-10-20 | Cash Vs Derivatives Schemes , Exchange Wash Trading +4 | $41m | judgment |
| CFTC v. Tennessee Trader and Two Entities (cash vs derivatives schemes, 2022) | CFTC | 2022-04-14 | Cash Vs Derivatives Schemes , Spoofing | — | unknown |