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Dodd Frank, MAR

Deutsche Bank fined $10.25m for spoofing and reporting failures

Last week the CFTC announced here that a settlement has been reached with Deutsche Bank for two enforcement matters relating to spoofing and reporting.

The reporting issue is covered by $9m of the settlement. It relates to a period in 2016 when a systems outage occurred for several days, resulting in no reporting for that period. The settlement has been reduced due to cooperation in the investigation and subsequent remediation.

The spoofing settlement of $1.25m relates to activity  in  Treasury futures and Eurodollar futures contracts on the CME.  The reported activity took place from  January to December 2013 by two Tokyo based traders. Again, the settlement was reduced due to cooperation during the investigation.

The settlement has been reported on in various places, including in this article on the Reuters web site.

 

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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