"Wash trades" investigated by CFTC, WSJ reports

theflyonthewall.com

The Commodity Futures Trading Commission is investigating whether high-frequency traders are routinely distorting stock and futures markets by illegally acting as buyer and seller in the same transactions--known as wash trades--sources say. They’re banned by U.S. law because they can feed false information into the market and be used to manipulate prices, reports the Wall Street Journal.

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