Tower Research Capital will pay the largest settlement to date for a spoofing scheme which resulted in $33 million in market losses.
BGC and GFI were accused of ‘flying’ and ‘printing’ fake FX options trades to deceive clients.
The US CFTC also fined NatWest Markets, PNC Bank and Northern Trust for reporting and risk management regulation failures.
The CFTC said that Tullett Prebon’s voice brokers made false or misleading statements to clients related to certain trades, bids and offers in US dollar interest rate swaps.
Merrill Lynch Commodities admitted the illegal activity following an investigation by the US Department of Justice and the CFTC.
US regulators approve the launch of Eurex ESG futures which will be available to trade early next month.
Regulators have agreed on measures to provide a “bridge over Brexit” for derivatives trading and clearing in the UK and US.
DTCC Deriv/SERV chief executive, Chris Childs, tells The TRADE about the role DTCC’s TIW played at the time of the financial crisis, and the progress made so far in establishing a global reporting framework for OTC derivatives.
With addition of four UK-based MTFs, the CFTC’s list of EU-based venues exempt from SEF registration now totals 20.
The US CFTC found that Commerzbank failed to supervise its swap dealing activities and made misleading compliance statements to the regulator.