U.S. Said to Probe Tullett, BGC, TFS-ICAP Over FX Options
- CFTC asking whether interdealer brokers made fake bids
- Some individuals said to cooperate; firms do internal probes
CFTC Asks Whether Interdealer Brokers Made Fake Bids
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U.S. authorities are investigating whether middlemen in the $5 trillion-a-day foreign exchange market posted fake bids, rigged auctions and gave confidential information to others who then profited from it, according to people familiar with the situation.
The investigation, by the U.S. Commodity Futures Trading Commission and New York’s Attorney General, is focused on the currency options desks at several interdealer brokers, staking out new territory after U.S. officials prosecuted banks for colluding to manipulate foreign-exchange rates.