A financial services firm agreed to pay $90 million to settle CFTC charges for allegedly attempting to manipulate the U.S. Dollar International Swaps and Derivatives Association Fix ("ISDAFIX benchmark") to benefit its proprietary derivative positions.
According to the Order, the financial services firm allegedly executed transactions in interest rate swap spreads in order to influence the published ISDAFIX benchmark. The CFTC acknowledged the firm's cooperation throughout the investigation. The firm neither admitted to nor denied the findings.
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