Eight traders have been arrested in Aarhus in Denmark on allegations of market manipulation of Wholesale Energy Products. The arrests occurred on Wednesday as reported here on the Reuters site . On Thursday the traders pled not guilty to the charges, as described in this article also on the Reuters site. According to this article on the Montel site, the traders have been remanded in custody for 4 weeks.

This is the first known arrest for breaches of REMIT, with other cases resulting in fines. Last week, in a separate case, an investigation into breaches of the REMIT rules on Insider Trading and the disclosure of Inside Information resulted in the case being referred to the police (see here).