What is truth?

by Tyler Durden

Dear CFTC commissioners:

Following this week’s first in a long series of articles showcasing the ongoing manipulation in the S&P courtesy of E-mini spoofing, we are delighted to inform you that even though you heroically used a whistleblower’s tip to capture the sole Flash Crash mastermind, Nav Sarao, five years after a flash crash which your peers at the SEC incorrectly claimed was the work of a small Kansas City-based mutual fund, the manipulation – as you called it – of the S&P 500 continues.

By way of example, here is some very clear evidence (courtesy of Nanex) showing “spoofing” – the very charge that Sarao is being scapegoated on – occurring twice in the space of a few minutes this morning…

And while we are confident that if Nanex can see this, so can you, here is the buy side:

And on the sell side:

Then again, we are certain that you have all this data already and are already preparing the case against the perpetrator(s): after all you are the CFTC – you know “everything” that happens in the futures market. As such we are confident you are already actively investigating the ongoing spoofing in both the US and Europe… unless of course, your interest is only awakened on days when the market drops.

Regards

Zero Hedge

P.S. We won’t stop this until you are forced to address the glaring hypocrisy and utter incompetence of everyone involved in the regulation of market microstructure.

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