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
- CME Notice of Disciplinary Action: Alpha Academic Limited
- CME Notice of Disciplinary Action: Syntex Energy, LLC
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