NEX Group subsidiary reaches ISDAfix settlement
19 September 2018 London
Image: Shutterstock
NEX Group has reached a settlement with the US Commodity Futures Trading Commission (CFTC) as part of an industry-wide investigation into the setting of the US Dollar ISDAfix benchmark.
Under the settlement, NEX subsidiary Intercapital Capital Markets will pay a civil monetary penalty of $50 million to the CFTC.
In its settlement order, the CFTC noted Intercapital's cooperation throughout, allowing it to undertake its investigation efficiently and effectively.
NEX said that the underlying CFTC investigation had been ongoing for a number of years and that it is pleased to have brought this matter to a conclusion.
Under the settlement, NEX subsidiary Intercapital Capital Markets will pay a civil monetary penalty of $50 million to the CFTC.
In its settlement order, the CFTC noted Intercapital's cooperation throughout, allowing it to undertake its investigation efficiently and effectively.
NEX said that the underlying CFTC investigation had been ongoing for a number of years and that it is pleased to have brought this matter to a conclusion.
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