The FIA submitted a letter to the Commodity Futures Trading Commission asking the agency to investigate whether any of its rules governing the handling of confidential data have been violated. Attached is a copy of the letter, which also was sent to the two Congressional committees that have jurisdiction over the CFTC. In the letter, the FIA expressed its very strong concern about the disclosure of confidential data about positions held by individual firms in the commodity derivatives markets in an article published in the Wall Street Journal on Aug. 18. The article, “As Oil Spiked, Many Traded,” stated that the data came from a list of position holders compiled by the CFTC. A member of Congress subsequently revealed that he provided this information to the newspaper. As stated in the letter, this incident “poses a serious threat to the confidence of market participants in the CFTC’s ability to protect proprietary information; raises troubling questions about the role of Congress in handling such information; jeopardizes the CFTC’s future ability to obtain cooperation in data collection and market surveillance; and undermines the agency’s ability to work cooperatively with its counterparts in overseas jurisdictions.”
FTSE Mondo Visione Exchanges Index:
FIA Asks CFTC To Investigate Breach Of Confidentiality
Date 26/08/2011