Deutsche Bank Securities Inc., a unit of Deutsche Bank (DB - Get Report) , was fined $70 million as part of a settlement of charges by the Commodity Futures Trading Commission that it attempted to manipulate a key foreign exchange benchmark.
The CFTC found that DBSI made false reports and sought to manipulate the U.S. Dollar International Swaps and Derivatives Association Fix, used as a daily reference in a wide variety of interest-rate products.
The manipulations between 2007 and 2012 sought to benefit DBSI's derivative positions, the CFTC said in a statement.
The case is the latest to be resolved against banks that conspired to manipulate the International Swaps and Derivatives Association Fix.
Previously the agency fined Barclays (BCS) $115 million in May of 2015, Citibank (C - Get Report) $250 million in May of 2016, Goldman Sachs (GS - Get Report) $120 million in December, 2016, and Royal Bank of Scotland (RBS) $85 million in February of 2017.
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