CME Sanctions Trader for Disruptive Trading Practices
The Business Conduct Committee ("BCC") of the Chicago Board of Trade ("CBOT") fined and suspended a trader for disruptive trading practices.
The BCC ordered the trader to pay $10,000 for violations of CBOT Rule 575 ("Prohibited Disruptive Practices"). According to the BCC, the trader violated the rule by entering and then cancelling orders during the pre-opening sessions of the Wheat and Corn futures markets, which resulted in fluctuations in the publicly displayed Indicative Opening Price of those futures. In addition, the BCC suspended the trader for 25 business days.
Available only to Premium subscribers.