New York, NY -- (SBWIRE) -- 07/29/2011 -- Amsterdam traders will pay attention next week to the potential settlement between the Commodity Futures Trading Commission (CFTC) and the U.S. arm of Amsterdam-based Optiver, which has been referred to U.S. Magistrate Judge Theodore Katz for settlement, with the meeting set to take place on Aug. 5, according to a filing in the U.S. district court in Manhattan. Market-sanctioned strategies for speed traders are explained in detail on groundbreaking High-Frequency Trading Experts Workshop DVD Video Package, "Practical Implementation of High-Frequency Trading Strategies", now available online at http://www.HFTExpertsWorkshop.com.

Reuters had exclusively reported that the case was entering a new phase whereby a judge would mediate settlement talks after years of legal submissions since the CFTC first charged the speed trading firm three years ago. According to the CFTC, Optiver reaped a $1 million profit in 2007 by "banging the close" in crude, gasoline and heating oil markets with a rapid-fire trading program nicknamed "the hammer."

Banging the close is an illegal strategy in which a firm accumulates a large position just before the market settles, and offsets that position at the close itself, manipulating prices through sheer volume of trades. The case revealed emails and phone recordings showing efforts by traders at Optiver's Chicago branch to "move," "whack" and "bully" oil prices.

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