It's hard to understand why spoofing would be illegal. If it fools traders who are relying on buy orders to judge the price, then why don't those traders just accept spoofing exists and not rely so heavily on the unfilled buy orders?
If it's illegal to cancel a buy order immediately after placing it, then perhaps exchanges shouldn't provide that facility? Perhaps there's some legal reason you would immediately cancel an order, and this action somehow doesn't destabilize the market or screw over other traders?
If it's illegal to cancel a buy order immediately after placing it, then perhaps exchanges shouldn't provide that facility? Perhaps there's some legal reason you would immediately cancel an order, and this action somehow doesn't destabilize the market or screw over other traders?