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The software doesn't carry out actual futures trades.
The C.F.T.C. polices the markets for futures trades.
"These fictitious trades concealed the fact that the index futures trades violated UBS's risk limits".
The cost of executing futures trades must be added on to FundCreator's management fees, but, unlike at hedge funds, investors keep all the gains they make.
Many people entering into these futures trades are doing it for hedging purposes or to protect their portfolios if Italy defaults.
An RBS spokesman said: "Until recently, RBS has applied a 0% floor to the overnight rate charged for deposits required by clearing houses for futures trades.
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"We warned of the risks inherent in futures trading".
European futures trading pointed to more falls on Monday morning.
Recently, policy makers also banned futures trading in the commodity.
Similar complaints led to a ban on futures trading in two varieties of pulses in January.
On Friday, China will begin stock-index futures trading, giving local investors more options.
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