Deutsche Bank AG agreed to pay 70 mln dollars for regulating the requirements of U.S. regulatory authority, Finance.ua reports quoting Bloomberg.

It has been reported that for many years, the traders of Deutsche Bank Securities Inc. strived to set ISDAfix for the benefit of positions involving cash-settled optionsoninterestrate swaps. U.S.Commodity Futures Trading Commission (CFTC) made such conclusion.

The investigative commissions stated that the bank employees attempted to manipulate ISDAfix with some strategies and that these violations had place from 2007 to May 2012. The bank employees reportedly knew and even discussed that they violate the law. At some moment, the trader told the broker that “many people in the world will go to prison if the government catches them one day”.

Despite the secret role, ISDAfix plays an important role on global financial markets, helping to determine the cost of trillion dollars of interest rate swaps and other instruments. The fluctuations of the benchmark help determining the efficiency of structured notes, purchased by rich people. James McDonald, CFTC Director of Enforcement, commented: There is no room in our markets for manipulation—we will continue to work hard to stamp it out, wherever we find it.”

Deutsche Bank Securities, a subsidiary company of the Frankfurt firm, agreed with the agency’s complaint, not realizing or negating offences. “We closely cooperate with CFTC investigation and made significant efforts for correcting control measures”, according to Deutsche Bank’s statement. It should be reminded that it was previously reported that Deutsche Bank can pay USD 170 mln of compensation of investors for manipulating the interbank interest rate (EURIBOR).