[moomin]

Spoofing Trader Who Outsmarted Citadel And HFTs Gets 3-Year Jail Sentence | Zero Hedge

What happened then is the same thing that happened with the other two notorious "spoofers" who have gained prominence in the recent year, Nav Sarao and Igor Oystacher: they got too good. So good in fact the HFTs - mostly Citadel - were consistently losing money to them. As a result, Coscia et al had to be punished. He was accused of entering large orders into futures markets in 2011 that he never intended to execute. His goal, prosecutors said, was to spoof, or fool other traders to markets by creating an illusion of demand so that he could make money on smaller trades. Prosecutors said he illegally earned $1.4 million in fewer than three months in 2011 through spoofing.

No way is any two bit dago grease ball gonna skim the Wall Street skimming machine by anticipating their HFT market bots. Skimming the markets are for Clinton Foundation donors.

[walruskkkch]

My spidey senses are a tingling. Clinton defense of "Lack of intent" to be deployed. Stay tuned.