Will CFTC's new powers lead to more market manipulation cases?

Law and order

US regulation of market manipulation

America’s top cop for energy derivatives, the US Commodity Futures Trading Commission, has a spotty track record of catching market manipulators. In its nearly four-decade history, the CFTC has successfully prosecuted only one manipulation case; many more have ended in settlements, with no admission of wrongdoing and financial penalties rarely larger than $20 million.

Perhaps that is all well and just. Traders argue that truly manipulative schemes – such as the Hunt brothers’ infamous plot to

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Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

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