U.S. and U.K. regulators accused a New Jersey high-speed trader of manipulating commodities markets in 2011, the latest sign of heightened global scrutiny of computerized trading across financial markets, the Wall Street Journal reported today. The Commodity Futures Trading Commission accused Panther Energy Trading LLC and its owner, Michael J. Coscia, of disrupting markets by improperly placing trades allegedly designed to lure other investors into buying and selling futures contracts tied to corn, oil and other commodities at bogus price levels. In a related action, the U.K. Financial Conduct Authority fined Coscia for alleged deliberate manipulation of commodities markets.
