We have confirmation of the PVM rogue broker story via an e-mailed statement from the company to the wires.
The flashes from Dow Jones read:
*DJ PVM Oil: Victim Of Unauthorized Oil Trading Tuesday
*DJ PVM Oil: Suffered A Loss Totalling Under $10 Mln
*DJ PVM Oil: Positions Were Closed “In An Orderly Fashion”
*DJ PVM Oil: Conducting Business As Normal, Margin Calls Met
Related link:
A rogue in crude at PVM - FT Alphaville
