Optiver controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2007
NYMEX oil-futures market manipulation
For 11 days in March 2007, Optiver engaged in 19 instances of an illegal “banging the close” scheme involving NYMEX futures for heating oil, reformulated gasoline blendstock and West Texas Intermediate crude oil. The conduct involved placing large trades near the close with the purpose of influencing closing prices. The matter was settled in 2012 with a $14 million fine, including $1 million in disgorgement, a two-year restriction on trading U.S. oil futures during the final three minutes before the close, and two-to-eight-year commodity-trading bans for several traders.