News Centre

CFTC Charges Andre Flotron With Spoofing And Engaging In A Deceptive And Manipulative Scheme In The Precious Metals Futures Markets

Date 29/01/2018

The U.S. Commodity Futures Trading Commission (CFTC) announced the filing of a civil enforcement action in the U.S. District Court for the District of Connecticut against Andre Flotron, of Switzerland, charging him with engaging in a manipulative and deceptive scheme and spoofing in the precious metals futures markets on a registered entity.

US Department Of Justice: Eight Individuals Charged With Deceptive Trading Practices Executed On U.S. Commodities Markets

Date 29/01/2018

Eight individuals who allegedly engaged in various deceptive trading practices on commodities markets in the United States have been publicly charged with federal crimes.  Seven of the eight individuals were charged with the crime of spoofing, an illegal trading practice that can be used to manipulate the commodities markets.  Other than the individuals identified today, only three other individuals have ever been publicly charged with the crime of spoofing.  Of those identified today, five were traders employed by global financial institutions, two were traders at large commodities trading firms, and one was the owner of a technology consulting firm. 

CFTC Charges Jitesh Thakkar And Edge Financial Technologies, Inc. With Aiding And Abetting Spoofing And Manipulative And Deceptive Scheme

Date 29/01/2018

The Commodity Futures Trading Commission (CFTC) today announced the filing of a federal court enforcement action in the U.S. District Court for the Northern District of Illinois, charging Jitesh Thakkar of Naperville, Illinois, and his company, Edge Financial Technologies, Inc. (Edge), with aiding and abetting spoofing and a manipulative and deceptive scheme in the E-mini S&P futures contract market on the Chicago Mercantile Exchange (E-mini S&P).

EU 27 And Brexit: Main Results Of The General Affairs Council (Art. 50)

Date 29/01/2018

Main results

Transition period after Brexit: negotiating directives

EU27 ministers adopted a new set of negotiating directives for the Brexit negotiations, which details the EU27 position regarding a transition period. According to the EU position, during the transition period the whole of the EU acquis will continue to apply to the UK as if it were a member state. However, the UK, as already a third country, will no longer participate in the institutions and the decision-making of the EU. These negotiating directives provide the Commission with a mandate, as the EU negotiator, to start discussions with the UK on this matter.

CFTC Orders Deutsche Bank To Pay $30 Million Penalty For Manipulation, Attempted Manipulation, And Spoofing In The Precious Metals Futures Markets - Deutsche Bank’s Penalty Was Substantially Reduced In Recognition Of Its Substantial Cooperation And Remediation

Date 29/01/2018

The Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Deutsche Bank AG (DB AG) and Deutsche Bank Securities Inc. (DBSI) (collectively, DB), requiring DB to pay a $30 million civil monetary penalty and to undertake remedial relief.   The Order finds that from at least February 2008 and continuing through at least September 2014, DB AG, by and through certain precious metals traders (Traders), engaged in a scheme to manipulate the price of precious metals futures contracts by utilizing a variety of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX), and by trading in a manner to trigger customer stop-loss orders.

Brexit: European Council, Council Of The European Union (Article 50) Adopts Negotiating Directives On The Transition Period

Date 29/01/2018

The Council, meeting in EU27 format, adopted supplementing negotiating directives for the Brexit negotiations, which detail the EU27 position regarding a transition period. These negotiating directives provide the Commission, as the EU negotiator, with a mandate to start discussions with the United Kingdom on this matter.

CFTC Orders UBS To Pay $15 Million Penalty For Attempted Manipulation And Spoofing In The Precious Metals Futures Markets - UBS’s Penalty Was Substantially Reduced In Recognition Of Its Self-Reporting, Cooperation And Remediation

Date 29/01/2018

The Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against UBS AG (UBS), requiring UBS to pay a $15 million civil monetary penalty and to undertake remedial relief.  The Order finds that from January 2008 through at least December 2013, UBS, by and through the acts of certain precious metals traders on the spot desk (Traders), attempted to manipulate the price of precious metals futures contracts by utilizing a variety of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX), including gold and silver, and by trading in a manner to trigger customer stop-loss orders. 

General Secretariat Of The Council Of The European Union - Brexit: Negotiating Directives On The Transition Period

Date 29/01/2018

In line with the European Council guidelines of 29 April 2017 and the Council negotiating directives of 22 May 2017, the first phase of the negotiations focused on the rights of citizens, the financial settlement, the issues relating to the island of Ireland, other separation issues, and the governance of the Withdrawal Agreement.

CFTC Charges Trader Krishna Mohan With Spoofing And Engaging In A Manipulative And Deceptive Scheme - CFTC Seeks Permanent Injunction, Civil Monetary Penalties, Disgorgement, And Trading And Registration Bans

Date 29/01/2018

The Commodity Futures Trading Commission (CFTC) today announced the filing of a federal court enforcement action in the U.S. District Court for the Southern District of Texas against Krishna Mohan of New York City, New York, charging him with spoofing (bidding or offering with the intent to cancel before execution) and engaging in a manipulative and deceptive scheme in the E-mini Dow ($5) futures contract market on the Chicago Board of Trade and the E-mini NASDAQ 100 futures contract market on the Chicago Mercantile Exchange.

West Corporation Agrees To Acquire Nasdaq’s Public Relations Solutions And Digital Media Services Businesses

Date 29/01/2018

West Corporation (“West”) and Nasdaq, Inc. (Nasdaq:NDAQ) (“Nasdaq”) jointly announced today that West has entered into a definitive agreement to acquire the public relations (Public Relations Solutions) and webcasting and webhosting (Digital Media Services) products and services within Nasdaq’s Corporate Solutions business for approximately $335 million, subject to adjustments. Public Relations Solutions and Digital Media Services consist of a comprehensive portfolio of communication tools, media intelligence and multimedia services for organizations across all industries. These solutions help enterprises more effectively communicate with their investors, customers and employees and increase the relevance of messaging by ensuring that it reaches the targeted audience.