New York based brokerage Optionable could face legal action
taken by New York Mercantile Exchange (Nymex) after its
involvement in trading losses incurred by Bank of Montreal
(BMO) earlier in the year (see FO Week Vol 12 No 18),
a role for which Optionable is reportedly being investigated by
Securities and Exchange Commission (SEC).
Market rumours suggest that Optionable may have been
responsible for possible "valuation irregularities", while
Nymex has indicated that the brokerage may have been aware of
the possible trading losses made by BMO before the deal between
itself and the exchange completed on
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