Sumitomo agreed in 1998 to pay a record $158 m to settle charges of illegal trade in copper and he paid a 125 m $ fine to the US Commodity Futures Trading Commission (CFTC). It is the largest civil fine ever imposed by an American organization.
Nicknamed "shock Finger", Anthony Ward pushed a huge piece of supply of cocoa in the world in July last year. Mr. Ward trade purchased firm Armajaro 241 000 tonnes of cocoa beans - enough for the manufacture of 5.3 billion quarter-pound chocolate bars.
The futures contract expired with a premium of nearly 300 pounds of July a ton on September cocoa as those of the market and unable to have captured.
A group of 16 European cocoa industry participants sent a letter to Liffe July 2 complain about speculation on the London market. Liffe is the introduction of a new trader similar to the US Commodity Futures Trading Commission (CFTC) reporting system will provide more transparency on who holds positions on the soft commodity markets.
Financiers Jay Gould and James Fisk conspired in the 1860s in a plot for the New York of angle gold market.
Aware of the plot, President Ulysses s. Grant authorized the Secretary of the Treasury to sell enough gold to wreck their plans.But speculation had already wrought havoc and caused first black nation Friday September 24, 1869.
The US Congress has been forced to include in the future act of August 1958 onions which prohibits trade of onion on the Chicago Mercantile Exchange futures. Onion prices had fluctuated wildly in 1955 $ 2.75 per 15 centimes bag - little more that the price of the bag holding the onions.
Farmers we traders alleged aircraft attempted market of onion, which led to the Act being passed from angle.
Money market has temporarily been maneuvered in 1979 and 1980, when Nelson Bunker Hunt and his brother William Herbert Hunt held derivatives of money representing about half of the world annual production of money.
In 1979 the price money is increased from $6 oz in a record time all the top of $48. 70 oz.
But the Hunt brothers had borrowed heavily to finance their purchases and that the price has dropped in the 50pc in only four days, they were unable to meet their obligations, causing panic on the markets.
In 1989, Nelson Bunker Hunt has agreed to pay penalties of up to 10 m $ and has consented to a prohibition on commercial products.
In the 1980s, Malaysia attempted to global market for angle plate, but was forced to abandon with enormous losses. He hoped to make up the price of Tin and forcing traders on the London Metal Exchange (LME) to purchase merchandise, the Malaysia, at higher prices.
But the plan failed when the LME amended some of its rules, whereas other producers provided fresh supplies and the United States has published its huge stock of Tin.
The losses of the Malaysia were never officially declared, although market estimates put as high as 500 m $.
In 2002, U.S. Sempra Energy Trader uproot nearly a month crude oil around Brent program after a commercial exchange for physical (EFP), which she swapped future Brent to send contracts that oil delivered. Most of the crude oil was shipped to China.
Sempra was one of the last classic short squeeze on the market of the North Sea before Brent pricing agency Platts introduced other types of crude oil, in the methodology of the reference index, making it impossible for a single negotiating to purchase worth a month full of crude oil.
BP was in 2004 who bought propane, almost all in the Mont Belvieu storage areas in advance, and then onto it until the end of the month, when other companies who need the gas on a pipeline North would pay for it.
In 2007, BP has agreed to pay civil and criminal penalties $ 303 million for trying to corner of the U.S. market propane, the CFTC fines in history. In return, the Government agreed to put an end to criminal probes related to propane, gasoline, crude and other trade goods. BP has also agreed to pay $52 m to settle a class action brought by the customer trial said that they have paid a price artificially inflated in April 2003 and the first half of 2004.
• Source: Reuters and agencies
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