The CFTC filed a civil enforcement action against Donald R. Wilson and his company, DRW Investments, LLC ("DRW"), with unlawfully manipulating and attempting to manipulate the price of a futures contract. The Complaint alleges that Mr. Wilson and DRW manipulated the IDEX USD Three-Month Interest Rate Swap Futures Contract ("Contract") from at least January 2011 to August 2011. The CFTC asserts that Mr. Wilson and DRW submitted "false" bids, in various prescribed time windows, that DRW knew could not be accepted for the purpose of manipulating the value of the Contract, whose value was based

The CFTC filed an enforcement action against Illinois resident James C. Yadgir, charging him with exceeding the CME's speculative position limits in live cattle futures contracts and feeder cattle futures contracts. The CFTC Complaint alleges that Yadgir, a CME Floor Broker and Trader, violated CEA provisions which prohibit any person from holding futures contract positions or options in such contracts in excess of established CFTC-approved speculative position limits. According to the Complaint, Yadgir held an open net position in April 2011 live cattle future contracts that exceeded his 550

CFTC Chairman Gary Gensler spoke before the Futures Industry Association ("FIA") 2013 Futures and Options Expo, focusing on past, current and future revisions to the regulations governing the swaps market. Chairman Gensler first pointed out how the swaps market, which is $400 trillion in size, has dwarfed the $30 trillion futures market. Asserting that Adam Smith had focused on the importance of market transparency in The Wealth of Nations, Gensler stated that the first major reform in the swaps market was making it more transparent. According to Gensler, the public can now see the price and

The CFTC is requesting public comment on an amended request from the Chicago Mercantile Exchange Inc., the Board of Trade of the City of Chicago, Inc., New York Mercantile Exchange, Inc., Commodity Exchange, Inc., and the Board of Trade of Kansas City, Missouri, Inc. (collectively, "the Exchanges"), for approval of amendments to existing Rule 538 ("Exchange for Related Positions") of the Exchanges' rulebooks and the issuance of CME Group Market Regulation Advisory Notice RA1311-5. The Exchanges filed a related request on September 12, 2013, seeking approval of the amendments to the rule and

FINRA announced that it has fined TD Ameritrade Clearing, Inc. and SG Americas Securities, Inc. a total of $1.8 million for failing to report or accurately report certain large options positions and for related supervisory deficiencies. FINRA found that, from May 2007 to January 2010, TD Ameritrade failed to properly aggregate certain reportable positions as acting-in-concert, which resulted in the firm failing to report approximately 1.4 million positions. Additionally, FINRA found that TD Ameritrade failed to establish and maintain reasonable supervisory procedures and systems to ensure