SMF Trading

SMF Trading, Inc. (dba World-Xecution Strategies) was expelled from FINRA whereby an owner of the BD also commonly owned and controlled two foreign unregistered proprietary trading firms that operated as trading funds and engaged in trading activity that included market manipulation and fraud, including layering and spoofing, on multiple markets.

A portion of revenues resulted from transactions involving layering and spoofing, including transactions not detected by the surveillance system at the commonly-owned broker-dealer to ensure continued marker access for the funds.