May 14, 2015 / 2:16 PM / 2 years ago

CFTC's Massad: agency directed CME to beef up "spoofing" enforcement

WASHINGTON, May 14 (Reuters) - The top U.S. derivatives regulator said on Thursday his agency has directed exchange market operator CME Group Inc to beef up its enforcement staff and develop plans to detect manipulative “spoofing” tactics.

Commodity Futures Trading Commission Chairman Tim Massad discussed the agency’s recommendations to CME in prepared testimony before the U.S. Senate Agriculture Committee.

CME should “develop strategies to identify instances of spoofing, and, as appropriate, pursue actions against perpetrators,” he said. (Reporting by Sarah N. Lynch; Editing by Susan Heavey)

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