TechFlow news: According to a Wall Street Journal report on May 20, minutes before former U.S. President Donald Trump posted on March 23 announcing a pause in military action against Tehran, markets experienced unusual activity during non-trading hours: over $800 million worth of crude oil futures changed hands within several minutes. After Trump reversed his decision, oil prices temporarily plunged 13%, enabling traders who correctly anticipated the move to profit. At least five firms earned more than $5 million each that day. The Commodity Futures Trading Commission (CFTC) is investigating the incident to determine whether insiders used or leaked information about Trump’s upcoming post.
According to documents reviewed and a source familiar with the matter, the CFTC is focusing on at least three companies: Qube, which reportedly earned approximately $5 million; Forza Fund, which netted roughly $10 million; and Totsa, a subsidiary of TotalEnergies, which reportedly earned around $200,000. None of these three firms has been charged, and the precise reason for the CFTC’s scrutiny remains unclear. In algorithm-driven markets, discerning trading motivation is difficult, and the line between luck and skill is blurred. Some firms claim their trading decisions were based on a news headline published 15 minutes before Trump’s post—“White House Considering Withdrawal from Iran Conflict Despite Ongoing Attacks.” The CFTC’s investigation remains ongoing. (Jinshi)
