Allston Said to Face CFTC Probe Into Alleged Manipulation
This article is for subscribers only.
High-frequency trading firm Allston Trading LLC is under investigation by the U.S. Commodity Futures Trading Commission for alleged market manipulation, according to a person familiar with the matter.
The regulator has subpoenaed CME Group Inc. for information on Chicago-based Allston, said the person, who asked not to be named because the matter is private. Through an arbitration process at exchange operator CME Group, Allston was accused last year by a rival, HTG Capital Partners LLC, of misleading competitors through an illegal practice known as spoofing.