'Barclays’ manipulative trading scheme cost other market participants at least $139.3m', the staff said. London-based Barclays has denied any wrongdoing and has vowed to take the dispute to court.
The combined penalties are the largest ever proposed by FERC for alleged market violations, and the outcome of the dispute may help clarify what constitutes market manipulation. Barclays said in a December 14th regulatory filing that the FERC staff interpretation is too broad and may chill trading in power markets, where electricity supply is bought and sold.
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FERC Staff Backs Penalties for Barclays in Energy Probe
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