CME Group Issues Disciplinary Action against Firm for Violating Position Limits Rules
CME Group announced a disciplinary action against Tanyard Creek Capital LLC for violating CME Rules that pertain to position limits.
CME Group found that Tanyard Creek Capital LLC, a Commodity Trading Advisor, exceeded the spot-month speculative position limit of 950 contracts in the October 2012 Lean Hog futures contracts ("Lean Hogs") by 324 contracts long, or 34 percent.
According to CME Group, the firm knew that it should reduce its Lean Hogs position before the market closed and had ample opportunity to do so, but failed to take the necessary steps to ensure compliance with the position limits rules.