Skip to main content

If Ken Griffin Is Going To Do The CFTC’s Job, It’d Better Be Paying Him For It

Citadel wants whistleblower status.
  • Author:
  • Updated:

We’re not sure if you are aware of this, but the Commodity Futures Trading Commission doesn’t really have enough money to do its job, at least according to the Commodity Futures Trading Commission. This means some things, notably technologically advanced things like high-frequency spoofing, tend to fall through the cracks some times.

Budget constraints are not something that Ken Griffin is worried about, especially when dealing with Russians who have double-crossed him. But those who are merely causing some mischief in the market? Yeah, you’re gonna have to help him out on that one. Market regulation isn’t a charity.

The Chicago-based firm has filed a request with the U.S. Commodity Futures Trading Commission for whistleblower status, saying it uncovered unscrupulous trading on futures exchanges beginning in 2013, according to two people familiar with the matter who asked not to be named discussing private matters….

The Citadel claim relates to Igor Oystacher and his Chicago-based firm, 3Red Trading LLC, which the CFTC sued last year for allegedly spoofing, an illegal bait-and-switch tactic….

Menchel said the claim was filed for Citadel by John Nagel, the general counsel for Citadel Securities, the firm’s market-making unit. Only individuals, and not companies, are allowed to file as whistleblowers, according to CFTC rules.

Can a $24 Billion Hedge Fund Blow the Whistle? Citadel Thinks So [Bloomberg]


Forbes Confirms Ken Griffin Won His Divorce

The Citadel founder has preserved his status as the richest Illinoisian. John Paulson et al fared less well.


Ken Griffin Making Good Use Of Time Remaining To Us

Citadel clients have a bunch more money to be rendered useless by the inevitable runaway inflation.


Ken Griffin: I Agreed To Pay How Much For New York Offices When Anne Was Pissing Me Off?

Citadel’s gonna see if there’s anything out there in the sub-$300/square foot range.

By Mr. Granger (Own work) [CC0], via Wikimedia Commons

Ken Griffin Ensures Ample Supply Of People To Hire And Fire Going Forward

The University of Chicago will be churning out little Ken Griffins—and those training the little Ken Griffins—for the foreseeable future.

Ken Griffin Tries On, Returns Chicago Apartment

When you own $300 million worth of other real estate, you've got to be picky.