X

CME Group Issues Fines for Trade Practice Violations

The Chicago Mercantile Exchange Group ("CME") issued fines against an energy company and a fund management company for trade practice violations.

The CME ordered:

  • an energy company to pay a $40,000 fine for (i) reporting inaccurate execution times on multiple block trades in crude oil futures and (ii) failing to sufficiently supervise employees; and

  • a fund management company to disgorge $3,778.72 for the illicit profits made by a former trader prearranging the execution of round-turn transactions to earn trade credits from NYMEX's Steel futures market-maker incentive program.

Primary Sources

  1. CME Notice of Disciplinary Action: Alpha Academic Limited
  2. CME Notice of Disciplinary Action: Syntex Energy, LLC

Related Articles

Premium Content

Available only to Premium subscribers.

 

Join Premium

US Regulatory Intelligence combines regulatory and enforcement news, analysis, and practical work tools on an easy-to-use digital platform.

Request a Free Trial

Tags

Regulated Activities
Supervision / Compliance Trading Trade Reporting
Regulated Entities
FCMs and IBs, Floor Brokers
Regulated Products
Futures / Security Futures Metals Energy Products
Body of Law
CEA Regulation
Jurisdiction
US - Federal
Organization
CFTC, NFA, CFTC Markets
Sub-Author
CME