home Latest News CFTC Inks $5.2M Settlements Over Eurodollar 'Wash Trades' – Law360 (subscription)

CFTC Inks $5.2M Settlements Over Eurodollar 'Wash Trades' – Law360 (subscription)

This post was originally published on this site

Law360, New York (June 30, 2017, 6:12 PM EDT) — A Chicago commodities trading firm and one of its employees have agreed to pay $5.2 million to settle allegations they engaged in illegal ‘wash trades’ that resulted in no economic benefit to rack up trade fee rebates, the U.S. Commodity Futures Trading Commission said Thursday.

DV Trading LLC had been accused by the regulator of using three strategies between 2013 and July 2015 to game a program offered by the Chicago Mercantile Exchange Inc. that gave rebates to companies that agreed to promote trades in futures…