September 20, 2016 BY LeapRate Staff

CFTC fines Russian banking giant VTB $5 million for fictitious FX trades

The U.S. Commodity Futures Trading Commission (CFTC) today issued an order filing and simultaneously settling charges against units of St. Petersburg, Russia based banking giant VTB - JSC VTB Bank (VTB) and VTB Capital PLC - for executing fictitious and noncompetitive block trades in Russian Ruble/U.S. Dollar (RUB/USD) futures contracts, which were cleared through the Chicago…

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