April 27, 2018 / 10:27 PM / 6 months ago

Cboe, market makers targeted in VIX manipulation lawsuit

April 27 (Reuters) - A trader has filed an antitrust lawsuit accusing several market makers including a Citigroup Inc unit and Citadel Securities LLC of conspiring to manipulate VIX, Wall Street’s main gauge of future stock market volatility, causing losses for other investors.

The proposed class-action lawsuit was filed by William Siegel, a trader in VIX futures and options, in the federal court in Chicago.

Cboe Exchange Inc, which administers the VIX, was also named as a defendant, and accused of failing to stop the manipulation in an effort to boost transaction fees and revenue. (Reporting by Jonathan Stempel in New York Editing by James Dalgleish)

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