CFTC Fines Firm, Trader for Alleged U.S. Oil-Futures Manipulation

摘要

The U.S. Commodity Futures Trading Commission (CFTC) has fined a trader and his former firm a combined US$400,000 over alleged attempts to manipulate West Texas Intermediate (WTI) crude futures in 2008. According to a November 25 CFTC statement, Daniel Shak and SHK Management LLC are permanently banned from trading in crude oil markets. The commission also issued a two-year ban from trading outright positions for any product or financial instrument regulated by the CFTC during market close. Shak was a former principal of SHK.