The Commodity Futures Trading Commission accused a former trader at Goldman Sachs of defrauding his employer by intentionally concealing an $8.3bn futures position that led to a realised loss of $118.4m.

Matthew Marshall Taylor was a trader at Goldman in 2007, according to a filing with the Financial Industry Regulatory Authority, the same time the CFTC alleges he entered fabricated trades in e-mini futures by bypassing and internal system that was designed to enter and route electronic trades to the Chicago Mercantile Exchange.