The US DOJ opens an investigation about a possible collusion among various hedge funds that trade euro contracts

According to published reports, the Antitrust Division of the US Department of Justice (DOJ) has opened an investigation into possible collusion among various hedge funds that trade euro contracts. The inquiry comes amid a sharp decline in the value of the euro, which has fallen approximately ten percent in value since the beginning of December. The full scope of the DOJ’s investigation is unknown at this time and could expand to include more firms or different areas of trading. The investigation is a reminder to remain vigilant in avoiding even the appearance of collusion among competitors and to ensure adequate safeguards are in place to prevent and detect such activities. DOJ Investigation Centered on Hedge Fund Gatherings The investigation appears focused on a February 8, 2010