CFTC Settles Charges against Individual for Violating Speculative Position Limits in Live Cattle Futures

The CFTC simultaneously filed and settled charges against a registered floor broker acting as agent for an Illinois company. The CFTC charged the individual with exceeding the spot-month speculative position limit for the Live Cattle futures contract traded on the Chicago Mercantile Exchange ("CME").

In its order, the CFTC found that on three trading days in 2010 and an additional three in 2013, the individual exceeded the spot-month speculative position limit for the CME Live Cattle futures contract. The CFTC's order requires the individual to cease and desist from further violations of CEA Section 4a(e) ("Excessive Speculation") and CFTC Rule 150.5 ("Exchange-Set Speculative Position Limits").