The Commodity Futures Trading Commission has fined ConAgra Trade Group $12m for causing a non-bona fide price to be reported in New York Mercantile Exchange crude oil futures on January 2 2008.
On that day, CTG was the first trader to purchase Nymex crude oil futures at the historic price of $100. As a result of CTG’s effort to be the first to trade at the $100 level, according to the CFTC order, the...