Comex Staff 'Spotted Copper Discrepancies'


COMPLIANCE officers at the Commodity Exchange (Comex) division of the New York Mercantile Exchange (Nymex) uncovered discrepancies in the copper market resulting from fraudulent trading as early as July last year, Nymex officials have claimed.

Neal Wolkoff, executive vice president at Nymex, says Comex's compliance staff noticed that copper deposits weren't moving from London Metals Exchange (LME) warehouses to Comex warehouses, despite Comex copper futures trading at a premium to their LME

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