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Interactive Brokers hit with $84M in fines/restitution over negative crude prices

Interactive Brokers was on notice of the possibility of negative oil futures prices prior to April 20, 2020, but did not adequately prepare.

Jun Zhang, a client of online trading company GAIN Capital, has dropped a lawsuit over losses related to negative crude oil prices.

A trader who sued GAIN Capital over negative oil prices is now challenging the Court ruling that dismissed his case.

GAIN Capital manages to escape a lawsuit over alleged consumer fraud in relation to negative crude oil prices.

In the opinion of Admiral Markets, not all market-specific circumstances have been taken into account by the regulator.

Crude oil prices turned negative for the first time in history in April 2020, as demand for crude dropped and storage for crude filled up.