Day: 28 September 2018

CFTC Hands Out Fines to Deutsche Bank, UBS, BNP Paribas

The US Commodity Futures Trading Commission (CFTC) has fined Deutsche Bank $70 million for attempted manipulation of the ISDAFIX benchmark and $30 million for manipulation, attempted manipulation, and spoofing in the precious metals futures markets. UBS has also been fined $15 million for attempted manipulation and spoofing in the same markets.

One of the CFTC Orders finds that over a five-year period, beginning in at least January 2007 and continuing through May 2012, Deutsche Bank Securities (DBSI) made false reports and through the acts of multiple traders, attempted to manipulate the US Dollar International Swaps and Derivatives Association Fix (USD ISDAFIX),

P&L Talk Series with Edward Woodford

Edward Woodford, the co-founder of the trading venue Seed CX, talks about what it really means to offer an institutional grade platform in the rapidly evolving crypto market.

Profit & Loss: You recently secured $15 million of investment. There’s obviously a lot of crypto-related ventures out there looking for investment, what was the focus of your pitch?

Edward Woodford: The key is that we’re entirely focused on the institutional market, which in turn affects how we build our systems, how we build our products, and it dictates our entire outlook and approach. The trend that we see is more institutional players coming into this space, this institutional flow dominates retail flow, and we’re looking to service these institutions.