Trading house Optiver fined $14m for manipulating oil markets

Dutch trading house Optiver has been fined $14m by the US financial services watchdog CFTC for manipulating crude oil prices.

The Commodity Futures Trading Commission had charged the traders with manipulation and attempted manipulation of crude oil, gasoline and heating oil prices in 2007.
In a statement, Optiver said it was pleased to reach a settlement with the commodities watchdog. The company has since installed a new management team and stepped up its compliance monitoring, Optiver said.
The traders have been banned from trading commodities for between eight and two years.

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