CFTC fines Russia’s VTB over ‘fictitious’ derivatives

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CFTC fines Russia’s VTB over ‘fictitious’ derivatives

The US Commodity Futures Trading Commission (CFTC) has penalised Russia’s VTB Bank and its London-based VTB Capital investment banking subsidiary over what the Commission called "fictitious" and "non-competitive" block trades of Russian ruble/US dollar futures contracts.

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