Moore Capital Management

Moore Capital Management ex-portfolio manager Christopher Louis Pia agreed on Monday to settle the charges by the US futures regulator and pay $1 million. He was charged with manipulating prices of palladium and platinum futures contracts on the New York Mercantile Exchange.

Pia made attempts to manipulate the settlement prices of palladium and platinum futures contracts from at least November 2007 until May 2008 while working for Moore Capital, the Commodity Futures Trading Commission said. He had engaged in a trading practice known as "banging the close.”