{"id":38982,"date":"2013-11-07T04:42:12","date_gmt":"2013-11-07T09:42:12","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=38982"},"modified":"2013-11-07T08:03:29","modified_gmt":"2013-11-07T13:03:29","slug":"high-speed-trader-charged-with-manipulating-futures-contracts-to-the-tune-of-20-million","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2013\/high-speed-trader-charged-with-manipulating-futures-contracts-to-the-tune-of-20-million.html","title":{"rendered":"High Speed Trader Charged With Manipulating Futures Contracts To The Tune Of $20 Million"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/11\/CFTC.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-38987\" alt=\"CFTC\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/11\/CFTC-300x200.jpg\" width=\"300\" height=\"200\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2013\/11\/CFTC-300x200.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2013\/11\/CFTC.jpg 553w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.Net) &#8211; The CFTC has filed a civil an enforcement action in New York against Donald R. Wilson and his company, DRW Investments, for unlawfully manipulating the price of a futures contract.<\/p>\n<p>The CFTC claims that the defendants profited by at least $20 million, while their trading counterparties suffered losses of an equal amount.<\/p>\n<p>&#8220;Traders cannot engage in manipulative acts to affect the price of futures contracts to achieve their desired profits, regardless of the so-called motive.&#8221;\u00a0Gretchen L. Lowe, the CFTC&#8217;s Acting Director of Enforcement, said, &#8220;Today&#8217;s action demonstrates that the Commission will vigorously prosecute such cases to protect the integrity of the markets.&#8221;<\/p>\n<p>According to the Complaint, Wilson and DRW allegedly caused and profited from artificial prices on the Three-Month Contract over a period of at least 118 trading days. Because Wilson and DRW allegedly caused artificial prices in multiple maturities of the Three-Month Contract each day, the manipulative scheme allegedly affected the prices of over 1,000 futures contracts.<\/p>\n<p>Alex Akesson<br \/>\nEditor for\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; The CFTC has filed a civil an enforcement action in New York against Donald R. Wilson and his company, DRW Investments, for unlawfully manipulating the price of a futures contract. The CFTC claims that the defendants [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16005,11,3],"tags":[],"class_list":["post-38982","post","type-post","status-publish","format-standard","hentry","category-developing-stories","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/38982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=38982"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/38982\/revisions"}],"predecessor-version":[{"id":38993,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/38982\/revisions\/38993"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=38982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=38982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=38982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}