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PVM OIL FUTURES, INC. v. PARIBAS

161 A.D.2d 220 (1990)

PVM Oil Futures, Inc., Respondent-Appellant, v. Banque Paribas, Appellant-Respondent, and Paribas Futures, Inc., Respondent

Appellate Division of the Supreme Court of the State of New York, First Department.

May 3, 1990

In 1985, plaintiff PVM Oil Futures, Inc. (PVM), an oil brokerage company specializing in the petroleum futures market and a floor broker on the New York Mercantile Exchange (NYMEX), and defendant Paribas Futures, Inc. (PFI), a NYMEX clearing broker, signed a document designated a "Fully Disclosed Commodity Clearing Agreement", under which PVM was to introduce customers and perform floor execution services for introduced customers to PFI, in exchange for PFI's performance...

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