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Chicago's 'Fear Index' Stained By Manipulation, Investors Say

Law360 (March 12, 2018, 6:21 PM EDT) -- A group of investors led by a Chicago trading firm on Friday alleged that a slew of unknown traders have spent years manipulating the Chicago Board Options Exchange Volatility Index by exploiting alleged weaknesses in the way the exchange calculates settlement prices on VIX futures and options.

Named plaintiff Atlantic Trading USA LLC said a group of unnamed entities placed manipulative S&P 500 Index options orders that artificially inflated settlements for expiring futures and options contracts linked to the CBOE’s so-called fear index. The complaint alleges...
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Case Information

Case Title

Atlantic Trading USA, LLC v. CBOE Global Markets, Inc. et al.

Case Number



Illinois Northern

Nature of Suit



Honorable Manish S. Shah

Date Filed

March 9, 2018

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