(Reuters) - A Chicago speed-trading firm sued
the U.S. swaps regulator on Tuesday, saying it acted to prevent the
agency from bringing an "unfounded" case against it for manipulating futures contracts.
DRW Investments and its founder Donald R. Wilson, for whom
the firm is named, filed the lawsuit against the Commodity
Futures Trading Commission in the U.S. District Court for the
Northern District of Illinois.
"Any claim the CFTC may bring against DRW on this matter
would be completely unfounded," the company said in a press
release.
DRW has been the subject of a CFTC inquiry for nearly two
years and found out about the probe when the CFTC requested
documents in August 2011, Craig Silberberg, a DRW employee, said
in a declaration filed in support of the case.
In April 2013, the CFTC's Division of Enforcement informed
DRW that it intended to recommend that the Commission file an
enforcement action, he added.
"DRW therefore understands that the filing of an enforcement
action by the CFTC is imminent, unless the Enforcement
Division's recommendation is rejected by the Commission," said
Silberberg, who oversees some of DRW's trading operations.
http://www.reuters.com/article/2013/09/17/derivatives-drwinvestments-idUSL2N0HD1WS20130917?feedType=RSS&feedName=financialsSector
