FILE PHOTO: A sign outside the headquarters of JP Morgan Chase & Co in New York, September 19, 2013. REUTERS/Mike Segaris set to pay nearly $1 billion to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities, a person familiar with the situation said on Wednesday.
The bank’s previous public filings had showed that authorities, including the Department of Justice’s Criminal Division, were conducting investigations “relating to trading practices in the metals markets and related conduct.” The settlement, first reported by Bloomberg News, could come as soon as this week and is not expected to result in any restrictions on the bank’s business, the person said.
Spoofing is a practice in which traders place orders they intend to cancel to move prices to benefit their market positions. Reporting by Abhishek Manikandan and Akanksha Rana in Bengaluru and Lawrence Delevingne; Editing by Aditya Soni
Of course they have earned $100 billion,they just paying the ticket.
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