CME Issues Two Disciplinary Actions Regarding Position-Limit and Wash-Trade Violations

CME Group issued two disciplinary actions, the first of which concerned position-limit violations, and the second, wash-trade rules.

In the first disciplinary action, CME Group found that, on April 8, 2013, the Bank of Oklahoma ("BOK") exceeded the spot-month position limit of 450 by carrying 511 contracts, and that, on April 9, 2013, BOK exceeded its position-limit amount again by carrying 476 contracts. CME Group ordered BOK to pay a fine of $22,500.

In a separate disciplinary action, CME Group found that two employees of a subsidiary of Sun Life Financial Inc. ("Sun Life") executed matching buy and sell orders on behalf of two different operating subsidiaries of Sun Life with knowledge and intent that the orders would match opposite one another. CME Group ordered Sun Life to pay a $50,000 fine.

See: Bank of Oklahoma Disciplinary Action; Sun Life Disciplinary Action.