Regulators are investigating whether "a benchmark daily rate set by a group of banks" has been...


Regulators are investigating whether "a benchmark daily rate set by a group of banks" has been the subject of widespread manipulation. Sound familiar? The CFTC has issued multiple subpoenas in connection with its investigation into the possible manipulation of ISDAFIX, the rate referenced by $379T (that's "trillion") of interest-rate swaps which are used by "everyone from hedge funds to manufacturing companies … to protect against fluctuations in funding costs." 

Comments (4)
  • mix
    , contributor
    Comments (97) | Send Message
     
    Now we know where the FIX in ISDAFIX comes from.
    8 Apr 2013, 09:06 PM Reply Like
  • Tricky
    , contributor
    Comments (2431) | Send Message
     
    With a name like ISDAFIX, I mean, what did you expect? ;-)
    8 Apr 2013, 09:31 PM Reply Like
  • BuildingBlocks
    , contributor
    Comments (47) | Send Message
     
    A fix. I see the fix. Someone with a sense of humor came up with that.
    8 Apr 2013, 11:50 PM Reply Like
  • Brad Kenagy
    , contributor
    Comments (2896) | Send Message
     
    $379 trillion, nothing can go wrong with something that size... talk about to big to fail lol.
    8 Apr 2013, 09:18 PM Reply Like
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