International derivatives marketplace CME Group today posted a notice of disciplinary action against Marcio Tavares.
The Chief Regulatory Officer issued charges against Marcio Tavares for violating CME Rules 432.L.1., 575.A., and 575.B., based on allegations that on one or more occasions from September 19, 2022, through November 10, 2022, Tavares entered orders in the December 2022 Australian Dollar, December 2022 Euro FX, December 2022 New Zealand Dollar, December 2022 Canadian Dollar, and December 2022 British Pound futures markets with the intent, at the time of order entry, to cancel the order before execution or to modify the order to avoid execution or with the intent to mislead other market participants.
Specifically, Tavares entered a large order(s) on one side of the market before placing a smaller aggressive order on the other side…
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