In testimony before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008, former director of the CFTC Division of Trading & Markets (responsible for enforcement) Michael Greenberger specifically named the Atlanta-based IntercontinentalExchange, founded by Goldman Sachs, Morgan Stanley and BP as playing a key role in speculative run-up of oil futures prices traded off the regulated futures exchanges in London and New York. However, the IntercontinentalExchange (ICE) had been regulated by both European and U.S. authorities since its purchase of the International Petroleum Exchange in 2001. Mr Greenberger was later corrected on this matter. COUNT 5
QSN1 Who was the former director of the CFTC that testified before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008? ANS1 Michael Greenberger QSN2 Who did Michael Greenberger erronesously name as a key player in speculative run-up of oil futures? ANS2 IntercontinentalExchange QSN3 Who founded the Atlanta-based Intercontinental Exchange? ANS3 Goldman Sachs, Morgan Stanley and BP QSN4 Who purchased the International Petroleum Exchange in 2001? ANS4 IntercontinentalExchange (ICE) QSN5 Where are regulated future exchanges located? ANS5 London and New York