ICE fines Goldman over "disorderly" oil trading

LONDON, June 20 Mon Jun 20, 2011 4:27pm BST

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LONDON, June 20 (Reuters) - ICE Futures Europe Exchange (ICE.N) said on Monday it had imposed a 25,000 pounds ($40,340) penalty on Goldman Sachs (GS.N) for what it called "disorderly trading" in oil contracts.

The exchange said in a circular on its web site that its monitoring on Jan. 28 had detected six "price spikes" in the April 2011 Brent/WTI spread.

"These were investigated and found to be the result of a limit order and several large market orders placed in quick succession by a GSF (Goldman Sachs International) trader," it said in a statement.

Goldman Sachs was not immediately available for comment.

(Reporting by Dmitry Zhdannikov)


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