commodities futures trading

CFTC Alleges Dutch Trading Firm Manipulated Energy Market

CFTC Alleges Dutch Trading Firm Manipulated Nymex Energy Market

The U.S. Commodity Futures Trading Commission, under pressure from Congress to police markets in the wake of record energy prices, accused Optiver Holding BV of manipulating U.S. energy markets.

The allegations against the Amsterdam-based hedge fund come as the Senate prepares to vote as early as tomorrow on legislation to curb speculation in energy markets and expand the commission's authority and staffing.

``Congress is looking for someone to blame,'' said Kevin Book, senior vice president for Friedman, Billings, Ramsey & Co. Inc. in Arlington, Virginia. ``The CFTC is trying to make sure it's not them.'