ICE Exchange Fined $3M Over Flawed Data
The ICE Futures U.S. commodity exchange has agreed to pay $3 million to settle charges that it submitted inaccurate and incomplete trading reports to the U.S. Commodity Futures Trading Commission every day for 20 months.
The trading reports submitted between October 2012 and at least May 2014 contained “thousands of errors and omissions,” the CFTC said Monday in an order disclosing the settlement. The erroneous data included natural gas prices that were reported at 1,000 times their actual level.
