PVM OIL

“The company is the world’s largest independent broker, trading more than 100m barrels of over-the-counter and oil futures a day on average”

“PVM’s £6m loss is relatively small compared to some recent rogue trading”

“Perkins was suspended when the brokerage discovered the rogue trading late on Tuesday morning”

“Saying it was “the victim of unauthorised trading,” PVM announced it was conducting a full investigation, and that it had informed the FSA and the InterContinental Exchange (ICE)”

“PVM said its brokers were not authorised to take positions in the crude oil markets”