logo-loader
viewNex Group Plc

NEX unit to pay US$50mln to settle US probe into rate manipulation

NEX's Intercapital Capital Markets subsidiary will pay the penalty with the US derivatives regulator

dollar bills
The US CFTC had conducted an industry-wide probe into attempted manipulation of ISDAfix

NEX Group PLC (LON:NEX) said a subsidiary will pay a penalty of US$50mln from the U.S. Commodity Futures Trading Commission to settle a claim related to the ISDAfix rate benchmark.

The financial technology company said its Intercapital Capital Markets LLC subsidiary will pay the penalty under a settlement with the US derivatives regulator, which had conducted an industry-wide investigation into alleged manipulation of ISDAfix, which is a rate used for interest rate swaps.

NEX said: “The underlying CFTC investigation had been ongoing for a number of years and NEX is pleased to have brought this matter to a conclusion.”

Quick facts: Nex Group Plc

Price: - -

LSE:NXG
Market: LSE
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Smart Metering Systems boss expects to be at the forefront of UK's zero...

Smart Metering Systems PLC's (LON:SMS) chief executive Alan Foy says it has £76mln indexed linked annualised recurring revenues on the books with at least an additional £40mln in waiting when it converts its minimum secured order book of 2mln to smart meters. Foy explains that the company gets...

59 minutes ago

2 min read