Bloomberg Businessweek

Dirty Deeds Hidden In a Mess of Data

A market watchdog has more info than it can afford to sort through | “We have a perfect forensic record of events”

At the cash-strapped regulator of the U.S. derivatives market, even an iPhone’s worth of data is too much to handle. Every day, just a bit after 4 p.m., about 50 gigabytes of data are transmitted from the Chicago office of CME Group to the Commodity Futures Trading Commission in Washington. The files contain the day’s history of trades on the world’s largest futures exchange, which CME runs. And that’s just a sliver of the information the agency gets.

One way to nail crooked traders who are distorting prices is

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