Dutch market traders prosecuted in New York

25th July 2008, Comments 0 comments

Optiver Holding BV is being prosecuted in the United States for manipulating New York oil markets in March 2007.

25 July 2008

NEW YORK - Dutch market trading company Optiver Holding BV is being prosecuted in the United States for manipulating New York oil markets in March 2007.

The US Commodity Futures Trading Commission (CFTC) says three members of Optiver manipulated the fuel futures on the New York Mercantile Exchange, keeping prices artificially high or low.

The CFTC says the incidents were isolated events and that the price changes were small.

The three Optiver executives, however, are said to have made about one million dollars from the scam.
 
[Radio Netherlands / Expatica]

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