Oil broker PVM hit by trading loss

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

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: