ICAP CEO defends against CFTC allegations

05/15/2013 | Bloomberg · Financial Times (tiered subscription model)

ICAP CEO Michael Spencer maintains that the company did not collude to manipulate the ISDAFix benchmark. Spencer's comments come amid an investigation by the Commodity Futures Trading Commission. "So far, nothing that we have discovered in our internal investigations gives me sleepless nights, and nothing that I've heard externally suggests ISDAFix has been tampered with," Spencer said. "We have adhered to our procedures, so I would refute, at this moment, that there has been any misconduct by ICAP brokers."

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