CBOE Faces Another VIX Futures Manipulation Antitrust Suit
By Bryan Koenig (July 24, 2018, 9:08 PM EDT) -- The holding company for the Chicago Board Options Exchange was hit with another proposed antitrust class action Monday over alleged manipulation of the exchange's volatility index, with a trading firm accusing the CBOE in Illinois federal court of looking the other way as a group of financial firms stoked uncertainty among other investors.
Chicago-based Breakwater Trading LLC sued CBOE Exchange Inc., parent company of CBOE Global Markets Inc. and CBOE Futures Exchange LLC, which is run by the CBOE, along with a series of John Doe defendants. Breakwater claims the "select group of financial institutions and trading firms" manipulated the so-called...
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