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CFTC Orders HSBC Securities (USA) Inc. Pay $1.6 Million Penalty For Spoofing In The Precious Metals Futures Markets - CFTC Recognizes HSBC’s Cooperation And Substantial Assistance In The Investigation

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The Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against HSBC Securities (USA) Inc. (HSBC) for engaging in numerous acts of spoofing with respect to certain futures products in gold and other precious metals traded on the Commodity Exchange, Inc. (COMEX). The Order finds that HSBC engaged in this activity through one of its traders based in HSBC’s New York office.

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