Judge Questions Firm’s Trading Strategy In $20M CFTC Trial

Law360, New York (December 1, 2016, 10:44 PM EST) -- As trial opened Thursday over the U.S. Commodity Futures Trading Commission’s allegations that DRW Investments made $20 million by manipulating futures contracts, a New York federal judge seemed skeptical of DRW’s claim that its bids on the contracts were legitimate and questioned why the firm would keep bidding if no one was biting.

The CFTC, which filed its suit against DRW Investments LLC and manager Donald R. Wilson in November 2013, alleges DRW and Wilson violated the Commodities Exchange Act by placing artificially high bids on...
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