Igor Oystacher

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Igor Oystacher
Occupation Propietary trading, programming
Employer 3Red Trading
Website http://www.3redgroup.com/

Igor Oystacher is a founder and head of proprietary trading firm 3Red Trading. He gained notoriety for being accused of spoofing futures markets and the ensuing litigation.

He is a competitive speed chess player. [1]


Oystacher was born in Moscow and has dual Russian and American citizenship.

His career in trading began in 2003 with Gelber Group LLC, a proprietary trading firm that hired him after he dropped out of Northwestern University. As soon as 2004, traders in the E-S&P Mini were discussing suspicious trading activity that would later be attributed to Oystacher.[2]

By all accounts Oystacher was successful, becoming the firm's specialist in S&P 500 futures.

Oystacher left Gelber in 2010 to start his own prop trading group, 3Red, with Edwin Johnson, another trader at Gelber.

In October 2016, the CFTC brought a civil case against Oystacher and 3Red based off an investigation that began in 2012. The CFTC alleged that he had spoofed futures markets on the S&P 500, copper, natural gass and a volatility index.[3]

Oystacher and his firm settled the case in December 2016 for $2.5 million while neither admitting nor denying wrongdoing. As part of the settlement Oystacher and 3Red agreed to hire an independent monitor to examine their trading activity for the next three years.[4]

During his time trading Oystacher has been fined for market manipulation by CME Group, ICE and Eurex.[5]


  1. Speed-Chess Champ Oystacher Claims Ignorance in Spoofing Case. Bloomberg.
  2. S&P 500 Futs RIGGED?!. Trade2Win.
  3. The Man Accused of Spoofing Some of the World's Biggest Futures Exchanges. Bloomberg.
  4. CFTC, Chicago trading firm reach $2.5 million 'spoofing' deal. Reuters.
  5. The Man Accused of Spoofing Some of the World's Biggest Futures Exchanges. Bloomberg.
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