NEX Group Reaches $50m Settlement With CFTC

Shanny Basar

NEX Group plc today announces that it has reached a settlement with the U.S. Commodity Futures Trading Commission as part of an industry-wide investigation into the setting of the US Dollar ISDAfix benchmark.

This relates to a NEX subsidiary company Intercapital Capital Markets LLC.

Under the settlement Intercapital will pay a civil monetary penalty to the CFTC of $50 million.

In the settlement order the CFTC notes Intercapital’s co-operation throughout, allowing them to undertake their investigation efficiently and effectively.

The underlying CFTC investigation had been ongoing for a number of years and NEX is pleased to have brought this matter to a conclusion.

Source: NEX

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