Hi, I'm new to CME, so this is a CME specific question, but it probably applies to most markets.
What kinds of trade behaviors are considered 'irregular' by CME and punishable by fines?
I'm aware of wash trade rules, but it seems like there is a lot of opportunity for trades that could be called "manipulative." For example, any combination of placing and removing a lot of simultaneous limit orders could be see as manipulative (messing with order book to make it look like something is happening?), yet we seem to see this stuff all the time especially from the algo traders. This is some real grey area stuff though since you could have an algo that changes orders a lot for it's own reasons. So what amount of dynamic changing of orders is considered to manipulative?
Are there other common 'errors' that a futures trader can make that can result in a fine? I've seen people mention they've gotten fined, but I can't find a good discussion on fine-able offenses.