CME And CBOT Impose Sanctions For Trading Violations

The Business Conduct Committee of the Chicago Mercantile Exchange ("CME BCC") and the Business Conduct Committee of the Chicago Board of Trade ("CBOT BCC") sanctioned several firms and traders for engaging in wash trading, exceeding position limits, and disruptive trading practices.

In separate disciplinary actions, the CME BCC Panel ordered:

• three traders (see here, here, and here) to each pay $20,000 for buying and selling orders in various 2018 expirations of currency and foreign exchange futures indirectly opposite another trader with whom the traders jointly owned two accounts using outright and spread instruments;
• a firm to pay $15,000 and disgorge $314,160 for exceeding the single month position limit in OCT19 Lean Hog futures contracts; and