A CME Group Inc probe into ex-Goldman Sachs Group Inc bond trader Glenn Hadden pertains to "technical risk management activity" in 2008, a lawyer for Hadden said on Monday.
Hadden, who is now head of global interest rates trading at Morgan Stanley , is being investigated by the CME for trades he made in Treasury bond futures, according a Financial Industry Regulatory Authority document. Hadden joined Morgan Stanley in March 2011 and was at Goldman at the time when those trades occurred.
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"The CME matter concerns technical risk management activity in a one-minute period four years ago during which Mr. Hadden acted properly and followed established market practice," Hadden's lawyer, James Benjamin of Akin Gump, said in a statement. "There is no legal or factual basis for any suggestion of market manipulation."
(Reporting By Lauren Tara LaCapra; Editing by Steve Orlofsky)