CFTC Orders Chicago-Based Futures Commission Merchant Newedge USA, LLC to Pay More than $220,000 for Violating Speculative Position Limits in Live Cattle Futures Trading

CFTC PR 5981-11

February 7, 2011

The CFTC announced that Newedge USA, LLC, a Chicago-based futures commission merchant, will pay a $140,000 civil monetary penalty and disgorge $80,910 to settle CFTC charges of exceeding speculative position limits in the October 2009 live cattle futures contract on the Chicago Mercantile Exchange by more than 4,000 contracts and failing to provide accurate and timely reports to the CFTC regarding their large trader positions.

Cross References

CEA Sec. 4a(e)