June 23rd 2012

Nymex Exchange – Morgan Stanley will pay a $50,000 fine to the New York Mercantile Exchange, which alleged that the bank overstated open interest in oil futures markets last November, NYMEX parent company CME said in a statement on Friday.

Morgan Stanley, which operates a large commodity trading operation, was found to have overstated open interest in the December, 2001 U.S. crude future contract during trading on November 17, 2011, allegedly violating reporting rules to the exchange, CME said.

The fine was part of a settlement agreement in which the bank admitted no wrongdoing, CME said. Morgan Stanley spokeswoman Mary Claire Delaney declined comment.

Continue reading »