The Commodity Futures Trading Commission is investigating suspiciously timed trades
in the oil futures market that occurred before President Donald Trump's recent policy statements regarding the Iran war, Bloomberg reports, citing sources familiar with the matter.
The CFTC is investigating trading in oil futures contracts on platforms operated by CME Group Inc. (NASDAQ:CME) and Intercontinental Exchange Inc. (NYSE:ICE), sources said. Both exchanges have received requests for data to support the investigation.
The investigation focuses on at least two instances over approximately two weeks in which trading volumes increased shortly before important announcements, sources said. The CFTC has requested Tag 50 identifiers from the exchanges, which reveal the entities behind the trades.