In an email statement to newswires, PVM Oil Futures director Robin Bieber said that "as a result of a series of unauthorised trades, substantial volumes of futures contracts were held by PVM. When this was discovered the positions were closed in an orderly fashion. PVM suffered a loss totalling a little under $10 million".
PVM has begun an investigation and has informed the UK's Financial Services Authority and IntercontinentalExchange about the unauthorised trades. The brokerage stated that it h
The week on Risk.net, July 14–20, 2017Receive this by email
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