On September 19, the CFTC issued two orders filing and settling charges against Victory Asset, Inc. (Victory) and Michael D. Franko for spoofing—bidding or offering with the intent to cancel the bid or offer before execution—and for the use of a manipulative scheme.  The scheme involved both domestic and international markets and occurred from at least May 2013 to July 2014.  One aspect of scheme involved cross-market spoofing—i.e., spoofing in one market to benefit a position in another market, where the price of the two markets is generally correlated, particularly in the short term.  The two CFTC orders require Victory and Franko to pay civil monetary penalties of $1.8 million and $500,000, respectively.