CFTC Said to Review 1 Million E-Mails in ISDAfix Investigation

http://www.businessweek.com/news/2013-05-20/cftc-said-to-review-1-million-e-mails-in-isdafix-investigation

Commodity Futures Trading Commission investigators are poring over 1 million e-mails and instant messages as part of their price-manipulation probe of a swaps benchmark that helps determine interest rates on everything from annuities to bonds linked to skyscrapers.

Investigators preparing to interview bankers and brokers in the coming weeks are scouring the records collected under subpoena for any evidence that the world’s largest banks and ICAP Plc (IAP) brokers rigged the ISDAfix swaps rate, said a person familiar with the matter, who asked not to be named because the probe is private. ICAP Chief Executive Officer Michael Spencer said last week that the company’s investigations have turned up no wrongdoing.