JPMorgan to Pay $65 Million Fine to Settle Charges of ISDAfix Manipulation

[kreslik.news]

The U.S. Commodity Futures Trading Commission said it ordered JPMorgan Chase to pay a $65 million fine as part of an agreement to settle charges of attempting to manipulate a major benchmark interest rate, according to a CFTC statement.

The regulator said on Monday that JPMorgan traders attempted to manipulate the US dollar iteration of ISDAfix, or the International Swaps and Derivatives Association Fix, from January 2007 through to 2010.

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The ISDAfix benchmark is widely used in setting payout rates on a range of interest rate products. The rates are also used ... (read more)