With respect to the data violations, the Germany-based lender is required to pay USD 9 million. The penalty reflects a reduced amount due to Deutsche Bank’s cooperation with CFTC staff like consenting to a court-appointed monitor. The settlement relates to a complaint filed in August 2016, after the bank was unable to report any swap data for multiple asset classes for about five days due to an unusual swap-reporting platform outage.
The second matter relates to spoofing charges, for example, manipulating the market by placing orders and then cancelling. An administrative order has been issued against Deutsche Bank Securities (DBSI) by the commission, stating that two of its Tokyo-based traders engaged in spoofing. Per the order, in 2013, one of the DBSI traders spoofed in the Treasury futures market, while the other spoofed in the Treasury and Eurodollar futures markets. Deutsche Bank agreed to pay a USD 1.25-million penalty to settle the allegations.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now