Igor Oystacher is a founder and head of proprietary trading firm 3Red Partners. He gained notoriety for being accused of spoofing futures markets and the ensuing litigation. A story about his trading and alleged spoofing was the subject of a front page story on the Wall Street Journal.
He is a competitive speed chess player. 
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.
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.
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.. Jim Lundy of Faegre Drinker Biddle & Reath LLP was appointed as the independent monitor of Oystacher's trading by Judge Amy J. St. Eve of the U.S. District Court.
During his time trading Oystacher has been fined for market manipulation by CME Group, ICE and Eurex. In May of 2015, Germany’s Eurex banned Oystacher from "trading for 30 days and fined him a total of €340,000 ($364,656) for two separate instances of spoofing."
Oystacher's trading was analyzed by software vendor Trillium in a 2016 commentary on the spoofing software company's website.
JLN News Feed
We visit more than 100 websites daily for financial news (Would YOU do that?). Read the John Lothian Newsletter.