Banging the Close

News & Analysis as of

Second Recent CFTC “Banging The Close” Case Results In Various CEA Violations, Fines, Trading Bans

On November 25, 2013, the Commodity Futures Trading Commission (CFTC) settled with Daniel Shak and SHK Management LLC (collectively Respondents) for violating the Commodity Exchange Act (CEA). ...more

Protecting A Position By “Banging The Close” And “Spoofing” Will Be Penalized – The CFTC

On November 6, 2013, the Commodity Futures Trading Commission filed suit against Donald R. Wilson and his company, DRW Investments, for “banging the close” and “spoofing” the IDEX USD Three-Month Interest Rate Swap Futures...more

FERC Lacks Authority To Regulate Natural Gas Futures Contracts, D.C. Circuit Rules

The U.S. Court of Appeals for the D.C. Circuit decided today that the Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over all transactions involving commodity futures contracts and that the Federal...more

FERC Case Could Affect Agency's Jurisdiction over Natural Gas Markets

The outcome of the Brian Hunter v. FERC case, which was argued today in the U.S. Court of Appeals for the D.C. Circuit, will help determine the scope of FERC's authority over the gas markets and the scope of FERC's...more

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