It will also be strictly enforcing limits on "round trip" trades in and out of its funds to four a year, the company said.
The findings were filed Thursday with the Securities and Exchange Commission, which requested information on "round trip" trades from Duke and other energy companies.
As I remember it, all of the stewardesses on board that fateful day had "trip traded" with other stewardesses so they could be home for Christmas with their families.
The Duke Energy Corporation, under investigation for sham energy transactions, said 23 "round trip" trades on the Intercontinental Exchange's Internet market added $126 million to 2001 revenue but did not affect its profit.
On average, the investor would be making three to four round trip trades per year for the entire portfolio, and less than one round-trip trade per asset class per year.
Update: Cuban clarifies in the comments below: "actually, it was in reference that I haven't bought since my one round trip trade and I don't currently own it".
That type of round-trip trading is a major red flag for possible fraud and led to a broader investigation.
Two traders, Aquila Inc. and the Williams Companies, announced today that they had participated in round-trip trading.
Dynegy claims that its round-trip trading—with CMS Energy, a little-known rival was done to test the ability of its trading system to handle large trades.
The company also received subpoenas relating to round-trip trading from the United States attorney's office for the Southern District of New York, Mr. Wheatley said.
Reliant, based in Houston, has said it engaged in round-trip trading, in which power was bought and sold at the same quantity and same price.
