Goldman Sachs Fined $120m, Following USD ISDAFIX Manipulation Charges
Posted: Tue Dec 20, 2016 4:14 pm
Goldman Sachs Group (NYSE:GS) has reached a $120 million settlement with the US’ Commodity Futures Trading Commission (CFTC) following charges of manipulation and falsified reports surrounding the US Dollar International Swaps and Derivatives Association Fix (USD ISDAFIX), per a regulatory filing.
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The USD ISDAFIX acts as a global benchmark for interest rate products. Moreover, the ISDAFIX rates and spreads constitute some of the most widely followed benchmarks for interest rate swaps and related derivatives, which dictate the prevailing and daily market rate for multiple currencies.
The CFTC ... (read more)