The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against banking institutions JSC VTB Bank (VTB), headquartered in St. Petersburg, Russia, and VTB Capital PLC (VTB Capital) for executing fictitious and noncompetitive block trades in Russian Ruble/U.S. Dollar (RUB/USD) futures contracts, which were cleared through the Chicago Mercantile Exchange (CME). VTB Capital, a U.K.-incorporated bank, is 94% owned by a holding company that, in turn, is 100% owned by VTB.
read more...↧