The Commodity Futures Trading Commission opposed the request of five industry organizations to assist the federal court hearing the CFTC’s pending lawsuit against Donald Wilson and DRW Investments, LLC, alleging attempted manipulation, in its evaluation of the correct legal standard to apply to evaluate respondents’ conduct. Two weeks ago, the five industry organizations—CME Group, Commodity Markets Council, Futures Industry Association, Intercontinental Exchange and Managed Futures Association—asked the court for permission to weigh in and argue that the CFTC should be required to prove—consistent with prior case law—that respondents intended to create an artificial price—one “that does not reflect the legitimate forces of supply and demand”—not solely to affect price, as the CFTC charged. This was necessary, said the organizations, because “market participants have a right to trade in their own best interests without regard to the positions of others as long as their trading activity does not have as its purpose the creation of ‘artificial’ or ‘distorted’ prices.” (Click here for a discussion of the substance of the organizations petition in the article, “Industry Groups Seek to Help Court Hearing the CFTC Enforcement Action Against DRW Regarding What Constitutes Attempted Manipulation” in the January 18, 2015 edition of Bridging the Week.) The CFTC said the organizations’ request to provide assistance should be rejected because “Amici’s proposed brief offers the Court nothing new” and was untimely.