WASHINGTON — The Commodity Futures Trading Commission today announced an order filing and settling charges against Sidney Lebental, a dual French and American citizen who resided in New York, for spoofing while trading treasury futures, primarily the Ultra U.S. Treasury Bond futures contract, on the Chicago Board of Trade.

Under the order, Lebental must pay a $200,000 civil monetary penalty, is prohibited from trading commodity interests for one month, and must cease and desist from violating the spoofing prohibition in the Commodity Exchange Act. 

The order finds Lebental engaged in spoofing on approximately 50 occasions from January to September 2019 by placing genuine orders for cash Treasuries (or, in some cases, for a Treasury futures contract) that he intended to execute on one side of the order book while entering on the opposite side of the market in a correlated Treasury futures contract the spoof orders he intended to cancel before execution. Once his genuine orders were filled, he canceled the spoof orders.